Crude Oil rose to 63.59 USD/Bbl on August 10, 2025, up 0.39% from the previous day. Over the past month, Crude Oil's price has fallen 7.09%, and is down 20.57% compared to the same time last year, 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 August 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.

Brent fell to 66.11 USD/Bbl on August 8, 2025, down 0.48% from the previous day. Over the past month, Brent's price has fallen 5.81%, and is down 17.01% compared to the same time last year, 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 August of 2025.

The 2025 annual OPEC basket price stood at ***** U.S. dollars per barrel as of June. This would be lower than the 2024 average, which amounted to ***** U.S. dollars. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq. The OPEC Reference Basket The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the OPEC members. Some of these oil blends are, for example: Saharan Blend from Algeria, Basra Light from Iraq, Arab Light from Saudi Arabia, BCF 17 from Venezuela, et cetera. By increasing and decreasing its oil production, OPEC tries to keep the price between a given maxima and minima. Benchmark crude oil The OPEC basket is one of the most important benchmarks for crude oil prices worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. The 2025 fall in prices was the result of weakened demand outlooks exacerbated by extensive U.S. trade tariffs.

The 2025 preliminary average annual price of West Texas Intermediate crude oil reached 68.23 U.S. dollars per barrel as of June. This would be eight U.S. dollars below the 2024 average and the lowest annual average since 2021. WTI and other benchmarks WTI is a grade of crude oil also known as “Texas light sweet.” It is measured to have an API gravity of around 39.6 and specific gravity of about 0.83, which is considered “light” relative to other crude oils. This oil also contains roughly 0.24 percent sulfur, and is therefore named “sweet.” Crude oils are some of the most closely observed commodity prices in the world. WTI is the underlying commodity of the Chicago Mercantile Exchange’s oil futures contracts. The price of other crude oils, such as UK Brent crude oil, the OPEC crude oil basket, and Dubai Fateh oil, can be compared to that of WTI crude oil. Since 1976, the price of WTI crude oil has increased notably, rising from just 12.23 U.S. dollars per barrel in 1976 to a peak of 99.06 dollars per barrel in 2008. Geopolitical conflicts and their impact on oil prices The price of oil is controlled in part by limiting oil production. Prior to 1971, the Texas Railroad Commission controlled the price of oil by setting limits on production of U.S. oil. In 1971, the Texas Railroad Commission ceased limiting production, but OPEC, the Organization of Petroleum Exporting Countries with member states Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela among others, continued to do so. In 1972, due to geopolitical conflict, OPEC set an oil embargo and cut oil production, causing prices to quadruple by 1974. Oil prices rose again in 1979 and 1980 due to the Iranian revolution, and doubled between 1978 and 1981 as the Iran-Iraq War prevented oil production. A number of geopolitical conflicts and periods of increased production and consumption have influenced the price of oil since then.

Heating Oil rose to 2.27 USD/Gal on August 8, 2025, up 0.09% from the previous day. Over the past month, Heating Oil's price has fallen 5.82%, and is down 3.06% 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 August of 2025.

Palm Oil rose to 4,254 MYR/T on August 8, 2025, up 0.31% from the previous day. Over the past month, Palm Oil's price has risen 2.28%, and is up 13.56% 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 August of 2025.

The article explores the fluctuations and events that have shaped the global economy within the crude oil price graph over the past 10 years. It examines the impact of geopolitical tensions, production changes, demand fluctuations, and the unprecedented effects of the COVID-19 pandemic. The article highlights the volatility and sensitivity of crude oil to various factors and their influence on the global economy.

On August 4, 2025, the Brent crude oil price stood at 68.59 U.S. dollars per barrel, compared to 66.29 U.S. dollars for WTI oil and 71.58 U.S. dollars for the OPEC basket. OPEC prices rose slightly that week, while Brent and WTI prices fell.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 (where a contract is agreed upon while 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.

Understanding the historical trends of crude oil prices over the past 10 years and the factors that influence them, including geopolitical, economic, and environmental factors. Exploring periods of volatility and stability, and the challenges of predicting future oil price movements.

Gasoline prices in the United States have experienced significant fluctuations over the past three decades, with 2024 seeing an average price of 3.3 U.S. dollars per gallon. This marks a notable decrease from the record high of 3.95 U.S. dollars per gallon in 2022, yet remains considerably higher than prices seen in the early 2000s. Despite this, American consumers continue to enjoy relatively low gasoline prices compared to many other countries, with some European countries paying more than double the U.S. average. Drivers in Hawaii and California pay the most at the pump Gasoline prices vary significantly across the United States, with Hawaii and California consistently ranking as the most expensive states for this fuel. As of January 1, 2025, Hawaii's average price for regular gasoline was 4.54 U.S. dollars per gallon, nearly 1.5 dollars above the national average. California's high prices are largely attributed to its steep gasoline taxes, which reached 68.1 U.S. cents per gallon in January 2024. These taxes play a crucial role in shaping retail prices and are typically reinvested in road infrastructure, demonstrating the direct link between fuel costs and transportation development. Patterns in gasoline consumption In a global context, the United States maintains some of the lowest conventional motor fuel prices among high-income countries. This is largely due to its position as the world's largest crude oil producer, allowing it to keep retail prices comparatively low. Despite fluctuations in price, gasoline consumption in the U.S. remains robust, averaging around 8.5 million barrels per day in 2024. Consumption tends to be highest in the summer months and lowest in the winter months due to changing driving behavior.

Gasoline rose to 2.08 USD/Gal on August 11, 2025, up 0.64% from the previous day. Over the past month, Gasoline's price has fallen 3.77%, and is down 14.64% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Gasoline - values, historical data, forecasts and news - updated on August of 2025.

The average price of Indian basket crude oil was estimated to reach ***** U.S. dollars per barrel in the financial year 2024. While Indian basket crude oil prices have fluctuated during the reported period, this figure significantly decreased from the previous year’s average of ***** U.S. dollars. The average price of crude oil went up marginally around the financial year 2012, touching almost *** U.S. dollars per barrel. Recent trends in the Indian oil industry The last several years have seen a slight but steady increase in Indian crude oil refinery capacity. However, the annual domestic crude oil production volume has consistently decreased. Not surprisingly, the volume of crude oil imports had recently been on the rise for several years. The future of the Indian energy sector As the third-largest primary energy consumer globally, India relies on various sources to meet its energy demands. At the same time, a significant increase in primary energy consumption across various sources is projected for the coming decades, with renewables playing a vital role in the Indian energy transition.

Urals Oil fell to 63.17 USD/Bbl on August 7, 2025, down 2.76% from the previous day. Over the past month, Urals Oil's price has fallen 4.94%, and is down 15.37% compared to the same time last year, 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.

Graph and download economic data for No. 2 Heating Oil Prices: New York Harbor (WHOILNYH) from 1986-06-06 to 2025-07-25 about new york harbor, heating, New York, oil, commodities, and USA.

The Western Canadian Select (WCS) oil price has experienced significant fluctuations over the past two decades, reflecting the volatile nature of global oil markets. In 2024, the annual average WCS oil price reached ***** U.S. dollars per barrel, a slight increase from the previous year. This price movement is part of a broader trend in the oil industry, where prices have been influenced by various economic and geopolitical factors. What impacts oil prices? Oil prices have been on a rollercoaster ride since the early 2000s, with dramatic fluctuations observed in OPEC Reference Basket oils. For instance, the Saharan Blend from Algeria saw its price rise from about ** U.S. dollars per barrel in 2002 to over *** U.S. dollars a decade later, before settling at ***** U.S. dollars in 2023. These price swings have been driven by major events such as the 2008 global financial crisis, the 2020 coronavirus pandemic, and the 2022 energy supply crisis following the Russia-Ukraine war. The volatility in oil prices has had far-reaching impacts on global economies and energy markets as they impact manufacturers and consumers. How regionally important crudes can influence the global economy While WCS prices reflect trends in the North American market, other regional benchmarks provide insights into global oil dynamics. For example, Dubai Crude (Fateh), an important benchmark for Asia, averaged ***** U.S. dollars per barrel in 2023, down from ***** U.S. dollars the previous year. Similarly, Russia's Urals crude oil, a major export brand, saw its price fluctuate in response to global events and policy decisions, such as the price cap imposed by the G7, EU, and Australia in December 2022. These regional variations highlight the complex interplay of supply, demand, and geopolitical factors in shaping global oil prices.

A crude oil price chart for the past 10 days demonstrates the fluctuating nature of crude oil prices and highlights the various factors that influence its volatility, including global demand and supply, geopolitical events, and economic indicators. This article provides a detailed analysis of the price movements over the 10-day period, showcasing how tensions in the Middle East, growing demand, concerns over economic growth, unexpected inventory increases, and the impact of the COVID-19 pandemic have all co

Graph and download economic data for Global price of Palm Oil (PPOILUSDM) from Jan 1990 to Jun 2025 about oil, World, food, and price.

Natural gas fell to 2.98 USD/MMBtu on August 11, 2025, down 0.47% from the previous day. Over the past month, Natural gas's price has fallen 14.14%, but it is still 35.95% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Natural gas - values, historical data, forecasts and news - updated on August of 2025.

In June 2025, the average price of one barrel of Brent crude oil was 71.44 U.S. dollars. This was around seven U.S. dollars more than prices the previous month, which were the lowest value in the past 24-month period. Brent terminology and most common uses Brent is the world's leading price benchmark for Atlantic basin crude oils. It is used to price two thirds of the internationally traded crude oil supplies and is also the most significant crude oil benchmark for Europe. Brent crude originates in the North Sea and includes oils from Brent and Forties Oil Field in the United Kingdom, and from the Oseborg and Ekofisk oil fields, both oil reserves in Norway. Other names for Brent are Brent Blend, London Brent and Brent petroleum. The name Brent comes from the Brent oil field, located north-east of the Shetland Islands, and thus part of the United Kingdom. Because the Brent oil field already passed its production peak, today the benchmark Brent includes oil from the other three major oil fields. Brent, next to West Texas Intermediate (WTI), is one of the lightest crude oils. With a low content of sulfur, it is ranged among the so-called sweet crude oils. Most of the Brent crude oil is refined into gasoline and middle distillates in Northwest Europe. Benchmark oil prices Other crucial benchmarks for crude oil prices are the already mentioned U.S.- WTI and Dubai Crude (Fateh). They are indispensable for referencing the many types and grades of oil on the global market. In the past 20 years, the annual price for one barrel of Brent crude oil saw a net increase. For example, the average price per barrel stood at 80.53 U.S. dollars in 2024.