Crude Oil decreased 2.12 USD/BBL or 2.95% since the beginning of 2025, 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 March of 2025.

The annual price of West Texas Intermediate (WTI) crude oil is expected to reach an average of 70.62 U.S. dollars per barrel in 2025, according to a February 2025 forecast. This would be a decrease of roughly six U.S. dollar compared to the previous year. In the first few weeks of 2025, weekly crude oil prices largely stayed below 75 U.S. dollars per barrel. What are benchmark crudes? WTI is often used as a price reference point called a benchmark (or ”marker”) crude. This category includes Brent crude from the North Sea, Dubai Crude, as well as blends in the OPEC reference basket. WTI, Brent, and the OPEC basket have tended to trade closely, but since 2011, Brent has been selling at a higher annual spot price than WTI, largely due to increased oil production in the United States. What causes price volatility? Oil prices are historically volatile. While mostly shaped by demand and supply like all consumer goods, they may also be affected by production limits, a change in U.S. dollar value, and to an extent by market speculation. In 2022, the annual average price for WTI was close to the peak of nearly 100 U.S. dollars recorded in 2008. In the latter year, multiple factors, such as strikes in Nigeria, an oil sale stop in Venezuela, and the continuous increase in oil demand from China were partly responsible for the price surge. Higher oil prices allowed the pursuit of extraction methods previously deemed too expensive and risky, such as shale gas and tight oil production in the U.S. The widespread practice of fracturing source rocks for oil and gas extraction led to the oil glut in 2016 and made the U.S. the largest oil producer in the world.

The prices of fossil fuels increased considerably in 2022 as a result of supply disruptions and rising energy demand. While the crude oil price in 2022 did not reach the levels of the 1979 or 2008 price shocks, natural gas prices rose to record highs.

Oil prices have risen due to reduced supply from OPEC and Russia, coupled with stronger U.S. economic growth. Explore insights on future oil price trends and market dynamics.

The history of US oil prices is a complex and dynamic one, influenced by a variety of factors such as geopolitical events, economic conditions, and technological advancements. This article explores the significant periods in US oil price history, including the 1970s oil crisis and the early 2000s price spike. It also discusses the impact of the 2008 global financial crisis and the recent COVID-19 pandemic on oil prices. Overall, the article highlights the interconnectedness of the global economy and the vol

US sanctions on a Chinese refinery have caused a significant rise in oil prices, with WTI and Brent crude experiencing notable gains. Explore the implications for the global oil market.

On March 24, 2025, the Brent crude oil price stood at 73.05 U.S. dollars per barrel, compared to 69.11 U.S. dollars for WTI oil and 75.11 U.S. dollars for the OPEC basket. These were slight increases compared to the previous weeks, which had seen some of the lowest prices in four years.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.

Oil prices rose by over 2% as OPEC+ delays an output increase, amid a pivotal week involving U.S. elections and China's economic meetings.

In February 2025, the average price of one barrel of Brent crude oil was 75.44 U.S. dollars. This was some four U.S. dollars below prices the previous month as demand for oil was expected to stagnate in the coming months. 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 twenty 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.

The peanut oil prices in the India for Q4 2023 reached 1922 USD/MT in December. Initially, prices dropped due to increased supply and cheaper alternatives. However, rising inflation and input costs pushed prices up upward during the quarter's end. Additionally, growing international demand strained local supplies, impacting domestic pricing trends.

Peanut Oil Prices December 2023

Explore IMARC’s newly published report, titled “Peanut Oil Pricing Report {PricingCurrentYear}: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of peanut oil pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

As of February 2025, the average annual price of Brent crude oil stood at 77.36 U.S. dollars per barrel. This is some three 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.

Brent decreased 0.64 USD/BBL or 0.85% since the beginning of 2025, 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 March of 2025.

During the last quarter of 2024, the sunflower oil prices in the USA reached 1120 USD/MT in December. As per the sunflower oil price chart, significant fluctuations were seen in the market as a result of changing supply and demand dynamics. October saw a sharp increase in prices as production costs rose due to global supply being constrained by geopolitical unrest in the Black Sea region.

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

The refined soybean oil prices in the United States for Q4 2023 reached 1,436 USD/MT in December. In the USA, soybean oil prices fell, contrary to expectations of a price increase. Factors influencing this trend included weaker demand in the diesel industry and concerns about El Nino affecting palm oil production in Southeast Asia. Additionally, Brazil's policy adjustments regarding biodiesel further pressured prices downward.

Crude Oil Production in Iraq decreased to 3677 BBL/D/1K in February from 3687 BBL/D/1K in January of 2025. This dataset provides the latest reported value for - Iraq Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Discover how a weaker dollar and global trade tensions influence a slight rise in oil prices and the implications for the energy sector.

Ecuador Crude Oil Basket Price: Petroecuador data was reported at 66.800 USD/Barrel in Sep 2018. This records an increase from the previous number of 61.600 USD/Barrel for Aug 2018. Ecuador Crude Oil Basket Price: Petroecuador data is updated monthly, averaging 30.100 USD/Barrel from Jan 1991 (Median) to Sep 2018, with 333 observations. The data reached an all-time high of 118.800 USD/Barrel in Jun 2008 and a record low of 6.790 USD/Barrel in Dec 1998. Ecuador Crude Oil Basket Price: Petroecuador 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.RB003: Crude Oil Prices.

The 2025 annual OPEC oil price stood at 78.1 U.S. dollars per barrel, as of February. This would be lower than the 2024 average, which amounted to 79.86 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 2024 fall in prices was the result of weakened demand outlooks, primarily from China.

Saudi Arabia Oil Prices: Nominal: North Sea, Brent data was reported at 54.170 USD/Barrel in 2017. This records an increase from the previous number of 43.760 USD/Barrel for 2016. Saudi Arabia Oil Prices: Nominal: North Sea, Brent data is updated yearly, averaging 24.745 USD/Barrel from Dec 1970 (Median) to 2017, with 48 observations. The data reached an all-time high of 111.620 USD/Barrel in 2012 and a record low of 2.230 USD/Barrel in 1970. Saudi Arabia Oil Prices: Nominal: North Sea, Brent data remains active status in CEIC and is reported by Saudi Arabian Monetary Authority. The data is categorized under Global Database’s Saudi Arabia – Table SA.P012: Energy Prices.

According to Cognitive Market Research, the global Commercial Aircraft Aviation Fuel market size will be USD XX million in 2023. It will expand at a compound annual growth rate (CAGR) of 15.20% from 2023 to 2030.

The demand for Commercial Aircraft Aviation Fuel is rising due to increasing focus on reducing carbon emissions.
Demand for air turbine fuel remains higher in the Commercial aircraft aviation fuel market.
The passenger aircraft category held the highest Commercial Aircraft Aviation Fuel market revenue share in 2023.
North American Commercial Aircraft Aviation Fuel will continue to lead, whereas the European Commercial Aircraft Aviation Fuel market will experience the most substantial growth until 2030.

Expansion of the Tourism Industry to Provide Viable Market Output

The expansion of tourism is influencing the market's growth. The surge in global tourism has led to a rise in air travel demand, subsequently driving the need for aviation fuel. As more people explore diverse destinations, airlines are compelled to increase their fleets and flights, increasing fuel consumption. Additionally, emerging economies witnessing a boost in tourism further amplify this trend. The expansion of the tourism sector acts as a key driver, stimulating investments and innovations in aviation fuel technology to meet the escalating requirements of the growing commercial airline industry.

For instance, According to the World Tourism Organization, a specialized agency of the United Nations (UN), tourist arrivals in Maldives in January 2021 stood at 92,103. This count rose to 99,397 by 3rd February 2021. The growing count of tourists is creating promising scope for the aviation industry.

Source-www.unwto.org/maldives-tourism-looking-up-after-reopening

Increased Development of Jet-a-fuels to Propel Market Growth

The development of jet-a-fuels has significantly impacted the Commercial aircraft aviation fuel market. Jet-A fuels are undergoing advancements to enhance fuel efficiency, reduce carbon emissions, and comply with stringent environmental regulations. These innovations focus on improving the energy density of fuels, exploring alternative and renewable sources, and optimizing combustion processes. The rise in demand for cleaner and more sustainable aviation fuels, coupled with a global emphasis on reducing the environmental impact of air travel, is compelling the industry to invest in research and development, thereby fostering the evolution of Jet-A fuels for a more eco-friendly aviation future.

For instance, in June 2021, researchers at Washington State University developed a process for turning waste plastics into sustainable jet-A fuel. If the process is refined and applied on a large scale, the procedure is expected to address major environmental problems, including greenhouse gas emissions and plastic pollution.

Source-news.wsu.edu/press-release/2021/05/17/new-technology-converts-waste-plastics-jet-fuel-hour/

Market Dynamics of the Commercial Aircraft Aviation Fuel Market

Fluctuation in Oil Prices to Restrict Market Growth

The fluctuation in oil prices hinders the growth of the market. The industry is highly sensitive to changes in crude oil prices, affecting the overall operational costs for airlines. Frequent spikes in oil prices can lead to increased expenses for fuel, impacting profit margins and necessitating adjustments in ticket prices. Conversely, a decline in oil prices may provide temporary relief but can disrupt long-term planning and investments in fuel-efficient technologies. The unpredictable nature of oil price fluctuations introduces financial uncertainties, making it challenging for airlines to budget effectively and potentially hindering the adoption of sustainable aviation fuel alternatives.

Impact of COVID–19 on the Commercial Aircraft Aviation Fuel market

The COVID-19 pandemic significantly affected the Commercial Aircraft Aviation Fuel market. The unprecedented decline in air travel demand led to reduced flight operations, impacting the aviation fuel sector. Airlines faced financial challenges, resulting in fleet groundings and delayed deliveries of new aircraft. It led to a surplus of aviation fuel, causing a price drop. Governments implemented travel restrictions and lockdowns, further exacerbating the industry's woes. As the world strives for recovery, the aviation fuel market is gradually rebounding, but uncertainties ...