Graph and download economic data for Crude Oil Prices: Brent - Europe (MCOILBRENTEU) from May 1987 to Oct 2025 about crude, oil, Europe, commodities, and price.

Brent fell to 63.05 USD/Bbl on December 2, 2025, down 0.19% from the previous day. Over the past month, Brent's price has fallen 2.84%, and is down 14.36% 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 December of 2025.

To improve the transparency of oil prices and to strengthen the internal market, the European Commission's Oil Bulletin presents weekly consumer prices for petroleum products in EU countries.

On October 27, 2025, the Brent crude oil price stood at 65.14 U.S. dollars per barrel, compared to 61.31 U.S. dollars for WTI oil and 67.54 U.S. dollars for the OPEC basket. Oil prices rose slightly that 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 global 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.

In August 2025, the average price of one barrel of Brent crude oil was 67.87 U.S. dollars. This was a decrease from the previous month and 12 U.S. dollars below July 2024 prices. 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.

United States - Crude Oil Prices: Brent - Europe was 65.28000 $ per Barrel in May of 2025, according to the United States Federal Reserve. Historically, United States - Crude Oil Prices: Brent - Europe reached a record high of 143.95000 in July of 2008 and a record low of 9.10000 in December of 1998. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Crude Oil Prices: Brent - Europe - last updated from the United States Federal Reserve on December of 2025.

Crude oil prices in Europe are influenced by various factors including global supply and demand, geopolitical events, economic indicators, and currency fluctuations. This article explains how these factors interact with each other to determine the price of crude oil in the region, which has significant implications for various industries and the overall economy.

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United States - Crude Oil Prices: Brent - Europe was 68.13000 $ per Barrel in April of 2025, according to the United States Federal Reserve. Historically, United States - Crude Oil Prices: Brent - Europe reached a record high of 132.72000 in July of 2008 and a record low of 9.82000 in December of 1998. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Crude Oil Prices: Brent - Europe - last updated from the United States Federal Reserve on November of 2025.

Europe Brent Crude Oil Prices - Historical chart and current data through 2025.

As of August 2025, the average annual price of Brent crude oil stood at 71.3 U.S. dollars per barrel. This is over nine 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 provides values for GASOLINE PRICES reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Context

The crude oil price movements are subject to diverse influencing factors. This dataset was retrieved from the U.S. Energy Information Administration: Europe Brent Spot Price FOB (Dollars per Barrel)

Content

The aim of this dataset and work is to predict future Crude Oil Prices based on the historical data available in the dataset. The data contains daily Brent oil prices from 17th of May 1987 until the 13th of November 2022.

Acknowledgements

Dataset is available on U.S. Energy Information Administration: Europe Brent Spot Price FOB (Dollars per Barrel) which is updated on weekly bases.

Inspiration

The vast competition in the Data Science field and the availability of the new Prophet method made it easier to predict future prices, that is what you may find when predicting the oil prices with this dataset.

Mexico Crude Oil Mean Price: By Region: Europe data was reported at 52.740 USD/Barrel in Feb 2019. This records an increase from the previous number of 47.930 USD/Barrel for Jan 2019. Mexico Crude Oil Mean Price: By Region: Europe data is updated monthly, averaging 36.875 USD/Barrel from Jan 1993 (Median) to Feb 2019, with 314 observations. The data reached an all-time high of 112.650 USD/Barrel in Jan 2012 and a record low of 7.800 USD/Barrel in Jun 1998. Mexico Crude Oil Mean Price: By Region: Europe data remains active status in CEIC and is reported by Petroleos Mexicanos. The data is categorized under Global Database’s Mexico – Table MX.P001: Crude Oil Price.

United States - Crude Oil Prices: Brent - Europe was 62.29000 $ per Barrel in May of 2025, according to the United States Federal Reserve. Historically, United States - Crude Oil Prices: Brent - Europe reached a record high of 141.07000 in July of 2008 and a record low of 9.44000 in December of 1998. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Crude Oil Prices: Brent - Europe - last updated from the United States Federal Reserve on November of 2025.

Europe Brent Spot Price FOB (Dollars per Barrel)

This dataset contains daily historical prices for Europe Brent Spot Price FOB (Free On Board) measured in dollars per barrel. The data spans from May 20, 1987 to September 29, 2025, providing a comprehensive time series of one of the world's most important crude oil benchmarks.

Brent crude is a major trading classification of sweet light crude oil that serves as a major benchmark price for purchases of oil worldwide. This dataset is valuable for energy market analysis, economic research, commodity trading strategies, and understanding historical oil price trends.

The data was sourced from the U.S. Energy Information Administration (EIA), which collects, analyzes, and disseminates independent and impartial energy information.

License: CC0 1.0 Universal (Public Domain) Source: https://www.eia.gov/dnav/pet/hist/RBRTED.htm

Mexico Crude Oil Export Price: by Region: Europe: Maya data was reported at 59.135 USD/Barrel in Apr 2019. This records an increase from the previous number of 55.559 USD/Barrel for Mar 2019. Mexico Crude Oil Export Price: by Region: Europe: Maya data is updated monthly, averaging 27.284 USD/Barrel from Jan 1990 (Median) to Apr 2019, with 352 observations. The data reached an all-time high of 113.510 USD/Barrel in Jan 2012 and a record low of 7.194 USD/Barrel in Dec 1998. Mexico Crude Oil Export Price: by Region: Europe: Maya data remains active status in CEIC and is reported by Petroleos Mexicanos. The data is categorized under Global Database’s Mexico – Table MX.P001: Crude Oil Price.

The average monthly price for natural gas in the United States amounted to *** nominal U.S. dollars per million British thermal units (Btu) in October 2025. By contrast, natural gas prices in Europe were about three times higher than those in the U.S. Prices in Europe tend to be notably higher than those in the U.S. as the latter benefits from being a major hydrocarbon producer. Europe's import reliance European prices for natural gas rose most notable throughout the second half of 2021 and much of 2022, peaking at over ** U.S. dollars per million Btu in August 2022. The sharp rise was due to supply chain issues and economic strain following the COVID-19 pandemic, which was further exacerbated by Russia’s invasion of Ukraine in early 2022. As a result of the war, many countries began looking for alternative sources, and Russian pipeline gas imports to the European Union declined as a result. Meanwhile, LNG was a great beneficiary, with LNG demand in Europe rising by more than ** percent between 2021 and 2024. How domestic natural gas production shapes prices As intimated, the United States’ position among the leaders of worldwide natural gas production is one of the main reasons for why prices for this commodity are so low across the country. In 2024, the U.S. produced more than ************ cubic meters of natural gas, which allays domestic demand and allows for far lower purchasing prices.

Mexico Crude Oil Export Price: by Region: Europe: Istmo data was reported at 69.730 USD/Barrel in Apr 2018. This records an increase from the previous number of 62.180 USD/Barrel for Feb 2018. Mexico Crude Oil Export Price: by Region: Europe: Istmo data is updated monthly, averaging 23.520 USD/Barrel from Jan 1990 (Median) to Apr 2018, with 239 observations. The data reached an all-time high of 120.182 USD/Barrel in Mar 2012 and a record low of 8.764 USD/Barrel in Dec 1998. Mexico Crude Oil Export Price: by Region: Europe: Istmo data remains active status in CEIC and is reported by Petroleos Mexicanos. The data is categorized under Global Database’s Mexico – Table MX.P001: Crude Oil Price.

View monthly updates and historical trends for European Union Natural Gas Import Price. Source: World Bank. Track economic data with YCharts analytics.