Crude Oil rose to 68.75 USD/Bbl on July 11, 2025, up 3.27% from the previous day. Over the past month, Crude Oil's price has risen 1.04%, but it is still 16.37% 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 July 7, 2025, the Brent crude oil price stood at 69.62 U.S. dollars per barrel, compared to 67.93 U.S. dollars for WTI oil and 69.92 U.S. dollars for the OPEC basket. Prices rose slightly that week, following signs of an increase in demand.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.

Heating Oil rose to 2.47 USD/Gal on July 11, 2025, up 3.46% from the previous day. Over the past month, Heating Oil's price has risen 11.10%, but it is still 1.60% lower than a year ago, 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.

Brent rose to 70.45 USD/Bbl on July 14, 2025, up 0.12% from the previous day. Over the past month, Brent's price has fallen 3.80%, and is down 16.98% 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 July of 2025.

It has long been suspected, given the salience of gasoline prices, that fluctuations in gasoline prices shift households' 1-year inflation expectations. Assessing this view empirically requires the use of dynamic structural models to quantify the cumulative effect of gasoline price shocks on household inflation expectations at each point in time. We find that, on average, gasoline price shocks account for 42% of the variation in these expectations. The cumulative increase in household inflation expectations from early 2009 to early 2013, in particular, is almost entirely explained by unexpectedly rising gasoline prices. However, there is no support for the view that the improved fit of the Phillips curve augmented by household inflation expectations during 2009 2013 is mainly explained by rising gasoline prices.

Interactive chart showing the daily closing price for West Texas Intermediate (NYMEX) Crude Oil over the last 10 years. The prices shown are in U.S. dollars.

Palm Oil rose to 4,175 MYR/T on July 11, 2025, up 0.68% from the previous day. Over the past month, Palm Oil's price has risen 8.72%, and is up 6.67% 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.

As of May 2025, the average annual price of Brent crude oil stood at 72 U.S. dollars per barrel. This is some 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 a 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.

In Q1 2025, white oil prices in the North American region recorded a quarter-on-quarter decline of 8.3% compared to Q4 2024. At the start of the quarter, prices increased as Winter Storm Enzo disrupted refinery operations and port activities, tightening supply while cold weather boosted demand for skincare products. Higher crude oil prices further supported this temporary uptick, though logistical challenges and extended lead times amplified market volatility.

During the Q2 of 2024, the price of white oil in the United States reached 1638 USD/MT in June. The U.S. market exhibited stability, driven by a steady supply-demand outlook and regular refinery functions. Despite fluctuating rates of crude oil and minor geopolitical conflicts, the market remained resilient, with only slight seasonal price variations due to increased demand for cosmetic products during summer. In confluence with this, prices remained static compared to earlier quarters, reflecting a dependable pricing environment, ensuring minimal disruption in the white oil market.

Silicone oil prices in North America showed an upward trend in Q1 2025, driven by strong demand from key sectors such as automotive, aerospace, electronics, and personal care. The price increase was influenced by persistent supply-side challenges, including rising raw material costs, especially due to fluctuations in crude oil prices. Crude oil price volatility had a direct impact on the cost of key raw materials for silicone oil production, such as siloxanes and energy-intensive production processes. Logistical disruptions, including port congestion on the U.S. West Coast and transportation delays, further compounded supply chain issues, raising shipping and storage costs.

Learn about the factors that led to the highest crude oil price in the past decade, including geopolitical tensions, production cuts by OPEC, and increased oil demand. Discover how oil prices have since fluctuated and the uncertain future of the oil market.

The Average Home Heating Oil Prices dataset provides New York residents and businesses with objective information on average residential retail heating fuel oil pricing in New York State and by region beginning September 8, 1997. Pricing data is obtained via surveys conducted by NYSERDA staff on a weekly basis during heating season (September to March) and bi-weekly during the rest of the year. All prices are listed in dollars per gallon.

The Average Home Heating Oil Prices dataset, Average Residential Retail Kerosene Prices dataset, and Average Residential Retail Propane Prices dataset are collectively referred to as the Heating Fuel Prices dataset.

For current and historical residential retail price data, regional comparisons, and fuel type comparisons, please visit the Home Heating Oil Prices Dashboard: https://www.nyserda.ny.gov/Researchers-and-Policymakers/Energy-Prices/Home-Heating-Oil/Average-Home-Heating-Oil-Prices

The New York State Energy Research and Development Authority (NYSERDA) offers objective information and analysis, innovative programs, technical expertise, and support to help New Yorkers increase energy efficiency, save money, use renewable energy, accelerate economic growth, and reduce reliance on fossil fuels. To learn more about NYSERDA’s programs, visit nyserda.ny.gov or follow us on X, Facebook, YouTube, or Instagram.

In Q1 2025, Tall Oil prices in the USA experienced a mixed trend. In January, prices saw a moderate rise driven by a resurgence in U.S. manufacturing activity, which boosted demand for industrial products like adhesives and biofuels. Higher energy costs also contributed to the increase, while concerns about a potential strike by the International Longshoremen's Association (ILA) led to stockpiling, further pushing prices up. However, the strike was called off, easing supply disruption fears.

Crude Oil Price: Indonesia data was reported at 61.320 USD/Barrel in Jul 2019. This records an increase from the previous number of 60.990 USD/Barrel for Jun 2019. Crude Oil Price: Indonesia data is updated monthly, averaging 42.500 USD/Barrel from Dec 1991 (Median) to Jul 2019, with 332 observations. The data reached an all-time high of 134.960 USD/Barrel in Jul 2008 and a record low of 9.990 USD/Barrel in Dec 1998. Crude Oil Price: Indonesia data remains active status in CEIC and is reported by Directorate General of Oil and Gas. The data is categorized under Global Database’s Indonesia – Table ID.PC001: Retail Price: By Major Commodities.

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The crude oil market has the potential to grow by 4781.60 million barrels during 2021-2025, and the market’s growth momentum will decelerate at a CAGR of 2.73%.

This crude oil market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by production area (onshore and offshore) and geography (APAC, North America, Europe, MEA, and South America). The report also offers information on several market vendors, including BP Plc, Chevron Corp., and ConocoPhillips Co., among others.

What will the Crude Oil Market Size be in 2021?

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Crude Oil Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing upstream investment is notably driving the crude oil market growth, although factors such as fluctuations in global crude oil prices may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the crude oil industry get your FREE report sample now.

      The rising energy demand across the world has prompted governments to explore untapped oil and gas resources in the upstream sector, using advanced technologies.
      The production of oil and natural gas is declining from many conventional oilfields. To overcome this issue, oil and gas operators are increasing investments in mature oil and gas fields.
      The adoption of unconventional exploration and production technologies in large shale deposits has widened opportunities for upstream oil and gas companies.
      The growing investments in the upstream oil and gas sector will significantly influence crude oil market growth over the forecast period.




      Technological development in the hydraulic fracturing process is aiding in the exploration and production of oil and gas from shale plays.
      The advances in the drilling technology and proppant placement in downhole wells increased hydrocarbon recovery from unconventional wells.
      Technological advances such as integration of the internet of things (IoT) for data acquisition, as well as the use of data analytics and machine learning, supports the efficiency of tools that is one of the key crude oil market trends.
      Real-time pressure data is crucial in crude oil production as it eliminates the over-fracturing issue.
      Automation of hydraulic fracturing optimizes the hydraulic fracturing method using algorithmic controls and supports enhanced well performance.

This crude oil market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Crude Oil Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

BP Plc
Chevron Corp.
ConocoPhillips Co.
Exxon Mobil Corp.
PetroChina Co. Ltd.
Petroleo Brasileiro SA
Qatar Petroleum
Rosneft Oil Co.
Royal Dutch Shell Plc
Saudi Arabian Oil Co.

The crude oil market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the crude oil market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Which are the Key Regions for Crude Oil Market?

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44% of the market’s growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for crude oil in APAC. Market growth in this region will be faster than the growth of the market in Europe, North America, and South America.

To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Production Area Segments in the Crude Oil Market?

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The crude oil market share growth by the onshore segment will be significant during the forecast period. In onshore exploration and pr

During the last quarter of 2024, the avocado oil prices in Mexico reached 14,220 USD/MT (export price) and 15,370 USD/MT (import price) in December. As per the avocado oil price chart, the rapid urbanization, consumers' growing purchasing power, and increasing desire for cooking in healthy oil enhanced with vital nutrients are causing price changes in the country.

Explore IMARC’s newly published report, titled “Avocado Oil Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” offers an in-depth analysis of avocado oil pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

Get the latest insights on price movement and trend analysis of Fuel Oil in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Correlation defined as linear relationship between two variables. Correlation coefficient (r) is used to measure correlation between two variables and its range varies between -1 to +1. There are two types of correlation namely positive and negative. r=+1 represents perfect positive correlation whereas r=-1 represents perfect negative correlation. Positive correlation tells both indicators are moving in same direction for e.g. If prices of crude oil and Natural gas are positively correlated and there is an increase in price of crude oil then price of Natural gas will also increase. On the other hand negative correlation between the same indicators, if there is increase in price of one will decrease the price of others.

Interactive daily chart of Brent (Europe) crude oil prices over the last ten years. Values shown are daily closing prices.