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.

The author argues that the economic benefits of low gasoline prices for the U.S. economy have fallen substantially since the reemergence of America as a major oil producer. The old rule-of thumb that a 10% fall in the oil price raises inflation-adjusted U.S. GDP by 0.2% is too large—the impact on economic activity should be closer to zero, and may even be negative if consumption grows slowly. The reasons for this change are straightforward, if underappreciated: (i) the value of oil production accounts for a larger share of the U.S. economy; and (ii) consumers are not spending the windfall like they used to because of higher debt levels, limited access to credit, slow wage rowth, and an older population.

Oil shocks exert influence on macroeconomic activity through various channels, many of which imply a symmetric effect. However, the effect can also be asymmetric. In particular, sharp oil price changes "either increases or decreases" may reduce aggregate output temporarily because they delay business investment by raising uncertainty or induce costly sectoral resource reallocation. Consistent with these asymmetric-effect hypotheses, the authors find that a volatility measure constructed using daily crude oil futures prices has a negative and significant effect on future gross domestic product (GDP) growth over the period 1984-2004. Moreover, the effect becomes more significant after oil price changes are also included in the regression to control for the symmetric effect. The evidence here provides economic rationales for Hamilton's (2003) nonlinear oil shock measure: It captures overall effects, both symmetric and asymmetric, of oil price shocks on output.

Graph and download economic data for Crude Oil Prices: Brent - Europe (DCOILBRENTEU) from 1987-05-20 to 2025-07-21 about crude, oil, Europe, commodities, and price.

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.

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.

Graph and download economic data for No. 2 Heating Oil Prices: New York Harbor (DHOILNYH) from 1986-06-02 to 2025-08-04 about new york harbor, heating, New York, oil, commodities, and USA.

Ecuador Crude Oil: Price: Average: Napo data was reported at 51.782 USD/Barrel in Jun 2019. This records a decrease from the previous number of 56.970 USD/Barrel for May 2019. Ecuador Crude Oil: Price: Average: Napo data is updated monthly, averaging 64.383 USD/Barrel from Jan 2010 (Median) to Jun 2019, with 114 observations. The data reached an all-time high of 112.380 USD/Barrel in Mar 2012 and a record low of 16.377 USD/Barrel in Feb 2016. Ecuador Crude Oil: Price: Average: Napo data remains active status in CEIC and is reported by Central Bank of Ecuador. The data is categorized under Global Database’s Ecuador – Table EC.P001: Crude Oil Prices.

Ecuador Crude Oil: Price: Average: Oriente data was reported at 57.272 USD/Barrel in Jun 2019. This records a decrease from the previous number of 62.779 USD/Barrel for May 2019. Ecuador Crude Oil: Price: Average: Oriente data is updated monthly, averaging 69.726 USD/Barrel from Jan 2010 (Median) to Jun 2019, with 114 observations. The data reached an all-time high of 113.748 USD/Barrel in Apr 2012 and a record low of 23.254 USD/Barrel in Jan 2016. Ecuador Crude Oil: Price: Average: Oriente data remains active status in CEIC and is reported by Central Bank of Ecuador. The data is categorized under Global Database’s Ecuador – Table EC.P001: Crude Oil Prices.

In the aftermath of the disruptions caused by hurricanes Katrina and Rita, natural gas prices rose to record-high levels. Because natural gas is an important energy source for the United States economy, there was widespread concern that these high prices might cause a significant slowing in the economy-especially among those manufacturing industries that heavily consume natural gas. The analysis presented in this article suggests that output is responsive to natural gas prices in some manufacturing sectors. Although perhaps significant, this result must be balances against the findings that, when the analysis is extended to the macroeconomy (real gross domestic product growth), increases in crude oil prices significantly predict real gross domestic product growth, but natural gas prices do not.

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.

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

United States - Crude Oil Prices: West Texas Intermediate (WTI) - Cushing, Oklahoma was 68.17000 $ per Barrel in June of 2025, according to the United States Federal Reserve. Historically, United States - Crude Oil Prices: West Texas Intermediate (WTI) - Cushing, Oklahoma reached a record high of 133.88000 in June of 2008 and a record low of 11.35000 in December of 1998. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Crude Oil Prices: West Texas Intermediate (WTI) - Cushing, Oklahoma - last updated from the United States Federal Reserve on August of 2025.

Soybean oil prices in , June, 2025 For that commodity indicator, we provide data from January 1960 to June 2025. The average value during that period was 609.89 USD per metric ton with a minimum of 157 USD per metric ton in August 1968 and a maximum of 1962.88 USD per metric ton in May 2022. | TheGlobalEconomy.com

The projected fiscal breakeven oil price in the United Arab Emirates (UAE) in 2025 was ** U.S. dollars per barrel. This represented a decrease from over ** U.S. dollars per barrel in 2023. Fiscal breakeven oil price as an indicator For the countries whose economies rely heavily on oil revenues, the fiscal breakeven oil price serves as an indicator of the country’s financial state. More specifically, it is the minimum barrel price the nation needs to cover its budget expenditures. For instance, the fiscal breakeven oil price in Kuwait was projected to be around ** U.S. dollars per barrel in 2025, while that of Qatar about ** U.S. dollars per barrel. This implies that the Qatari economy may be more resilient to oil price shocks than Kuwait, since it can endure lower prices. The UAE, fossil fuels, and sustainability Similar to other economies in the region, the UAE had a relatively high share of GDP attributed to oil and gas production. The UAE has large oil reserves, listing among the leading countries in terms of proved oil reserves worldwide. Nevertheless, an economy built around fossil fuels is harmful to the environment and susceptible to oil price shocks, and therefore unsustainable. For these reasons, the Emirati government has devised strategies to build a more resilient economy, that is less dependent on fossil fuels. For example, the planned energy distribution in the UAE aims for renewable energy sources to make up ** percent of the total by 2050.

Nigeria's economy was significantly impacted by the COVID-19 pandemic. Among others, oil prices experienced a sharp fall and the country lowered the daily crude oil production consistently. In January 2019, the price per barrel amounted to ** U.S. dollars per barrel, whereas in April 2020 the price dropped by ** dollars. Crude oil, petrol, and fuel represented Nigeria's main source of export value.

Learn about the factors that influence crude oil prices and the importance of these prices in the global economy. Explore the benchmark prices, such as Brent crude and West Texas Intermediate, and understand how supply and demand, geopolitical events, production costs, and market speculation affect the price of crude oil. Discover the impact of crude oil prices on inflation, energy costs, investment opportunities, and as macroeconomic indicators.

A common conundrum discussed in economic research revolves around the fact that nations endowed with plentiful natural resources often exhibit a lower gross domestic product (GDP). This conundrum is commonly called the "resource curse", where most empirical studies about the effects primarily focused on developed economies. At the same time, limited data is available regarding a burgeoning oil-exporting nation like the Republic of Yemen. This research endeavor aims to investigate the relationship between oil price Changes and Yemen’s economic growth. Utilizing annual data spanning from 1990 to 2019, the study employs the auto-regressive distributed lag (ARDL) model to establish the long-term connection between oil price volatility and economic growth over both short and long timeframes. This study’s outcomes indicate that oil price Changes have a significant positive relationship with Yemen’s economic growth in both the long and short run. Oil rents show a significant negative relationship with economic growth in both the long and short run. The results of GLM, RLS, and GMM robustness checks are consistent with our model results. Based on these findings, we suggest that Yemen should diversify its economy by investing in agriculture and tourism, and focus on human capital, education, and research and development. These steps could reduce the economy’s dependence on oil and enhance sustainable economic growth. These empirical insights and suggestions are particularly useful for policymakers as they help build sound external and economic policies to sustain long-term economic growth.

Coconut oil prices in , July, 2025 For that commodity indicator, we provide data from January 1960 to July 2025. The average value during that period was 723.74 USD per metric ton with a minimum of 200 USD per metric ton in April 1972 and a maximum of 2771 USD per metric ton in July 2025. | TheGlobalEconomy.com

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