Crude Oil fell to 66.61 USD/Bbl on July 3, 2025, down 1.24% from the previous day. Over the past month, Crude Oil's price has risen 5.99%, but it is still 20.72% 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 30, 2025, the Brent crude oil price stood at 66.64 U.S. dollars per barrel, compared to 65.11 U.S. dollars for WTI oil and 68.35 U.S. dollars for the OPEC basket. OPEC prices fell that week as concerns over supply constraints related to the Israel-Iran conflict eased.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 2.37 USD/Gal on July 4, 2025, up 0.19% from the previous day. Over the past month, Heating Oil's price has risen 13.32%, but it is still 9.47% 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 fell to 68.86 USD/Bbl on July 3, 2025, down 0.36% from the previous day. Over the past month, Brent's price has risen 6.17%, but it is still 21.23% 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 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.

Palm Oil rose to 4,108 MYR/T on July 4, 2025, up 0.37% from the previous day. Over the past month, Palm Oil's price has risen 5.23%, and is up 1.68% 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.

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.

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.

Oil prices rise as market focuses on US-China trade talks, OPEC's production strategy, and geopolitical sanctions impacting the global 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.

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.

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.

Oil prices rise following trade tensions and geopolitical events, with Brent crude surpassing $67 and West Texas Intermediate nearing $63. China's economic strategies and OPEC+ decisions are pivotal.

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.

The global fuel energy price index stood at 153.15 index points in May 2025, up from 100 in the base year 2016. Figures decreased that month due to lower heating fuel demand and a fall in crude oil prices. The fuel energy index includes prices for crude oil, natural gas, coal, and propane. Supply constraints across multiple commodities The global natural gas price index surged nearly 11-fold, and the global coal price index rose almost seven-fold from summer 2020 to summer 2022. This notable escalation was largely attributed to the Russia-Ukraine war, exerting increased pressure on the global supply chain. Global ramifications of the Russia-Ukraine war The invasion of Ukraine by Russia played a role in the surge of global inflation rates. Notably, Argentina bore the brunt, experiencing a hyperinflation rate of 92 percent in 2022. The war also exerted a significant impact on global gross domestic product (GDP) growth. Saudi Arabia emerged with a notable increase of nearly three percent, as several Western nations shifted their exports from Russia to Middle Eastern countries due to the sanctions imposed on the former.

In Q1 2025, U.S. sunflower oil prices reflected significant volatility, shaped by evolving supply conditions, shifting demand patterns, and broader macroeconomic pressures. January began with a strong upward trajectory as constrained global sunflower seed production—driven by geopolitical tensions and adverse weather in Ukraine and Russia—led to tighter supply. The USDA projected a 10% drop in global output for the 2024/25 season, while rising soybean oil futures further supported sunflower oil’s price surge.

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

Sunflower Oil rose to 1,240 INR/10 kg on July 2, 2025, up 0.51% from the previous day. Over the past month, Sunflower Oil's price has fallen 2.05%, but it is still 33.42% higher 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 Sunflower Oil.

Graph and download economic data for Global price of Olive Oil (POLVOILUSDM) from Jan 1990 to May 2025 about oil, World, food, and price.

The global Crude Oil Flow Improver market was valued at USD 1.82 billion in 2022 and is projected to reach USD 2.77 billion by 2030, registering a CAGR of 5.4% for the forecast period 2023-2030. Market Dynamics of the Crude Oil Flow Improver Market Driving Factor:

Rising demand for crude oil:

Increasing demand for crude oil in petroleum products is helping to expand the Crude Oil Flow Improver market. The demand for crude oil in petroleum products is increasing due to its uses as a fuel in many equipment-like vehicles, heaters, generators, and others. For instance, In India, 249,621.61 TMT of crude oil was processed for petroleum products in 2022. Additionally, it has high demand in the chemical industry as a raw material for manufacturing several chemicals like plastics, polyurethane, and solvents. However, the use of crude oil flow improver in export and import operations helps ensure the efficient and reliable flow of crude oil throughout the transportation, and storage and supports overall logistics of crude oil export and import. Hence, as crude oil demand increases, the market for crude oil improvers will also rise.

Restraining Factor:

Stringent regulation along with fluctuating crude oil prices:

Stringent regulations regarding manufacturing, sales, import, and export of crude oil are expected to hamper the growth of the crude oil flow improver market. For instance, the International Maritime Organization (IMO) set strict standards to prevent oil pollution for crude oil transportation. This regulation includes requirements for double-hulled tankers, oil spill response plans, and limitations on oil discharge. Moreover, fluctuating prices of crude oil due to global supply & demand, government policies, currency exchange rates, geopolitical guidelines, and others are expected to hinder the growth of the crude oil flow improver market. For instance, As per the Ministry of Energy, Saudi Arabia, the largest exporter country of crude oil, will implement an additional voluntary cut in its production of crude oil from 2023-2024, which will affect the prices of crude oil.

Impact of the COVID-19 Pandemic on the Crude Oil Flow Improver Market: The outbreak of Covid-19 has witnessed a significant impact on the Crude Oil Flow Improver market growth. Due to the lockdown and supply chain disruption, the import and export of raw materials were paused or lowered. Transportation restrictions declined the demand for crude oil. As a COFI was demanded by crude oil and the specialty chemical industry, the lowered demand for crude oil negatively impacted the crude oil flow improver market. Also due to the lockdown, many industries closed, and many oil and gas projects were delayed due to economic uncertainty, hampered the crude oil flow improver market. Post-covid, the supply chain runs smoothly as the guidelines were released and the lockdown opened. Export and import of crude oil resumed so the rising global crude oil industry led to the expansion of the COFI market. What is crude oil?

Crude Oil Flow Improver is a chemical additive that is mostly used in the oil and gas industry to enhance the flow capacity of crude oil. Crude oil has a high viscosity and impurities in its natural state that hamper the flow of oil. For that, the COFI is used to enhance the flow of crude oil. Moreover, Crude Oil Flow Improver is also known as a drag-reducing agent (DRA) as it reduces friction and improves the flow efficiency of crude oil in pipelines. Crude oil flow improver is used as a catalyst to decrease viscosity, lower the pour point, and lower the drag coefficient of crude oil.