Crude Oil rose to 70.07 USD/Bbl on July 31, 2025, up 0.09% from the previous day. Over the past month, Crude Oil's price has risen 7.05%, but it is still 8.18% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on July of 2025.

On June 16, 2025, the Brent crude oil price stood at 72.89 U.S. dollars per barrel, compared to 71.77 U.S. dollars for WTI oil and 73.15 U.S. dollars for the OPEC basket. Crude oil prices rose slightly compared to the previous week.Europe's Brent crude oil, the U.S. WTI crude oil, and OPEC's basket are three of the most important benchmarks used by traders as reference for oil and gasoline prices. Lowest ever oil prices during coronavirus pandemic In 2020, the coronavirus pandemic resulted in crude oil prices hitting a major slump as oil demand drastically declined following lockdowns and travel restrictions. Initial outlooks and uncertainty surrounding the course of the pandemic brought about a disagreement between two of the largest oil producers, Russia and Saudi Arabia, in early March. Bilateral talks between global oil producers ended in agreement on April 13th, with promises to cut petroleum output and hopes rising that these might help stabilize the oil price in the coming weeks. However, with storage facilities and oil tankers quickly filling up, fears grew over where to store excess oil, leading to benchmark prices seeing record negative prices between April 20 and April 22, 2020. How crude oil prices are determined As with most commodities, crude oil prices are impacted by supply and demand, as well as inventories and market sentiment. However, as oil is most often traded in future contracts (whereby a contract is agreed upon, while the product delivery will follow in the next two to three months), market speculation is one of the principal determinants for oil prices. Traders make conclusions on how production output and consumer demand will likely develop over the coming months, leaving room for uncertainty. Spot prices differ from futures in so far as they reflect the current market price of a commodity.

Brent fell to 71.82 USD/Bbl on July 31, 2025, down 0.90% from the previous day. Over the past month, Brent's price has risen 7.02%, but it is still 9.69% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Brent crude oil - values, historical data, forecasts and news - updated on July of 2025.

As of June 2025, the average annual price of Brent crude oil stood at 71.91 U.S. dollars per barrel. This is over eight U.S. dollars lower than the 2024 average. Brent is the world's leading price benchmark for Atlantic basin crude oils. Crude oil is one of the most closely observed commodity prices as it influences costs across all stages of the production process and consequently alters the price of consumer goods as well. What determines crude oil benchmarks? In the past decade, crude oil prices have been especially volatile. Their inherent inelasticity regarding short-term changes in demand and supply means that oil prices are erratic by nature. However, since the 2009 financial crisis, many commercial developments have greatly contributed to price volatility, such as economic growth by BRIC countries like China and India, and the advent of hydraulic fracturing and horizontal drilling in the U.S. The outbreak of the coronavirus pandemic and the Russia-Ukraine war are examples of geopolitical events dictating prices. Light crude oils - Brent and WTI Brent Crude is considered a classification of sweet light crude oil and acts as a benchmark price for oil around the world. It is considered a sweet light crude oil due to its low sulfur content and low density and may be easily refined into gasoline. This oil originates in the North Sea and comprises several different oil blends, including Brent Blend and Ekofisk crude. Often, this crude oil is refined in Northwest Europe. Another sweet light oil often referenced alongside UK Brent is West Texas Intermediate (WTI). WTI oil prices amounted to 76.55 U.S. dollars per barrel in 2024.

Urals Oil rose to 65.21 USD/Bbl on July 28, 2025, up 0.77% from the previous day. Over the past month, Urals Oil's price has risen 2.76%, but it is still 13.12% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. This dataset includes a chart with historical data for Urals Crude.

Heating Oil rose to 2.42 USD/Gal on July 31, 2025, up 0.38% from the previous day. Over the past month, Heating Oil's price has risen 3.79%, and is up 0.23% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Heating oil - values, historical data, forecasts and news - updated on July of 2025.

Graph and download economic data for Crude Oil Prices: Brent - Europe from 1987-05-15 to 2025-07-25 about crude, oil, Europe, commodities, and price.

Palm Oil fell to 4,276 MYR/T on July 25, 2025, down 1.25% from the previous day. Over the past month, Palm Oil's price has risen 6.58%, and is up 8.50% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Palm Oil - values, historical data, forecasts and news - updated on July of 2025.

The price of US oil per barrel today is influenced by global supply and demand, geopolitical events, economic indicators, and market speculation. Learn about the factors that impact oil prices and their effects on the global economy.

Graph and download economic data for Spot Crude Oil Price: West Texas Intermediate (WTI) (WTISPLC) from Jan 1946 to Jun 2025 about WTI, crude, oil, price, and USA.

United States - Spot Crude Oil Price: West Texas Intermediate (WTI) was 68.17000 $ per Barrel in June of 2025, according to the United States Federal Reserve. Historically, United States - Spot Crude Oil Price: West Texas Intermediate (WTI) reached a record high of 133.93000 in June of 2008 and a record low of 1.17000 in February of 1946. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Spot Crude Oil Price: West Texas Intermediate (WTI) - last updated from the United States Federal Reserve on July of 2025.

This dataset contains information about daily spot prices for crude oil WTI and Brent from 1986. data from US Energy Information AdministrationNotes:Citation: "Spot Prices For Crude Oil And Petroleum Products". Eia.gov. N.p., 2016. Web. 10 Mar. 2016.

WTI oil prices in , June, 2025 For that commodity indicator, we provide data from January 1982 to June 2025. The average value during that period was 46.23 USD per barrel with a minimum of 11.31 USD per barrel in December 1998 and a maximum of 133.93 USD per barrel in June 2008. | TheGlobalEconomy.com

This dataset contains information about world's crude oil prices for 1861-2020. Data from BP. Follow datasource.kapsarc.org for timely data to advance energy economics research.Notes: 1861-1944 US Average 1945-1983 Arabian Light posted at Ras Tanura 1984-2016 Brent dated. $2020 (deflated using the Consumer Price Index for the US

Russia Average World Price: Crude Oil: Urals: per 1 Barrel data was reported at 91.200 USD/Barrel in Mar 2019. This records an increase from the previous number of 80.700 USD/Barrel for Feb 2019. Russia Average World Price: Crude Oil: Urals: per 1 Barrel data is updated monthly, averaging 58.745 USD/Barrel from Jun 2000 (Median) to Mar 2019, with 226 observations. The data reached an all-time high of 129.710 USD/Barrel in Jul 2008 and a record low of 18.200 USD/Barrel in Nov 2001. Russia Average World Price: Crude Oil: Urals: per 1 Barrel data remains active status in CEIC and is reported by Ministry of Finance of the Russian Federation. The data is categorized under Global Database’s Russian Federation – Table RU.PC002: Average World Prices, Crude Oil Export Price, Crude Oil Export Duty.

The average spot price for West Texas Intermediate crude oil came to 76.63 U.S. dollars per barrel in 2024, a decrease of nearly one U.S. dollars compared to the previous year. The 2024 average spot price for Brent crude oil was 80.52 U.S. dollars. Both Brent and WTI are light crude oils, with the first used as a benchmark for gasoline prices around the world. Spot prices vs. future prices Spot prices refer to current market prices under which a commodity such as one barrel of crude oil may be bought for immediate delivery. In contrast, future prices refer to settlement and delivery at a later date. As a major refinery and storage hub, Cushing in Oklahoma is the delivery location for WTI traded via the New York Mercantile Exchange. When storage capacities threatened to reach their maximum capacity in April 2020, the WTI oil price crashed as a result, trading at record low prices. The WTI oil price fell into negative numbers for the first time in its history, closing out at negative 37.63 U.S. dollars per barrel on April 20th. The lowest value for Brent prices was 19.33 U.S. dollars per barrel. Influences on oil prices Oil prices are volatile commodities as their trading and delivery is heavily influenced by overall market development and geopolitical events. For example, the Russia-Ukraine war and resulting Russian sanctions brought about fears of supply bottlenecks, which pushed oil prices to decade-highs also reflected in the 2022 annual average.

Graph and download economic data for Global price of WTI Crude (POILWTIUSDQ) from Q1 1990 to Q2 2025 about WTI, crude, oil, World, and price.

Graph and download economic data for Global price of Dubai Crude (POILDUBUSDM) from Jan 1990 to Jun 2025 about crude, oil, World, and price.

Learn about the factors that affect the price of sweet crude oil, including global demand, supply levels, geopolitical events, and economic conditions. Find out how the price per barrel has changed in recent years and how it is determined by oil producers, major companies, and traders. Discover the impact of the COVID-19 pandemic and an oil price war on oil prices, and understand why the price per barrel of sweet crude oil has been hovering around $60 to $70. Stay informed with real-time market information

Algeria Export Price: Annual: Crude Oil data was reported at 334.600 USD/Barrel in 2023. This records an increase from the previous number of 103.700 USD/Barrel for 2022. Algeria Export Price: Annual: Crude Oil data is updated yearly, averaging 65.700 USD/Barrel from Dec 2001 (Median) to 2023, with 23 observations. The data reached an all-time high of 334.600 USD/Barrel in 2023 and a record low of 24.300 USD/Barrel in 2001. Algeria Export Price: Annual: Crude Oil data remains active status in CEIC and is reported by General Directorate of Customs. The data is categorized under Global Database’s Algeria – Table DZ.P002: Export Price of Hydrocarbon.