Crude Oil fell to 64.01 USD/Bbl on August 29, 2025, down 0.91% from the previous day. Over the past month, Crude Oil's price has fallen 8.56%, and is down 12.97% 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.

Brent rose to 68.10 USD/Bbl on September 1, 2025, up 0.92% from the previous day. Over the past month, Brent's price has fallen 0.95%, and is down 11.87% 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 September of 2025.

As of July 2025, the average annual price of Brent crude oil stood at 71.79 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.

The 2025 annual OPEC basket price stood at ***** U.S. dollars per barrel as of July. This would be lower than the 2024 average, which amounted to ***** 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 2025 fall in prices was the result of weakened demand outlooks exacerbated by extensive U.S. trade tariffs.

On August 18, 2025, the Brent crude oil price stood at 66.54 U.S. dollars per barrel, compared to 63.42 U.S. dollars for WTI oil and 68.21 U.S. dollars for the OPEC basket. Oil prices remained largely unchanged that week as economic expectations stayed low.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 (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.

Urals Oil rose to 62.89 USD/Bbl on August 29, 2025, up 1.08% from the previous day. Over the past month, Urals Oil's price has fallen 8.38%, and is down 15.11% compared to the same time last year, 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 Urals Crude.

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

This dataset contains information about daily spot prices for crude oil WTI and Brent from 1986. data from US Energy Information AdministrationNotes:Citation: "Spot Prices For Crude Oil And Petroleum Products". Eia.gov. N.p., 2016. Web. 10 Mar. 2016.

The 2025 preliminary average annual price of West Texas Intermediate crude oil reached 68.23 U.S. dollars per barrel as of June. This would be eight U.S. dollars below the 2024 average and the lowest annual average since 2021. WTI and other benchmarks WTI is a grade of crude oil also known as “Texas light sweet.” It is measured to have an API gravity of around 39.6 and specific gravity of about 0.83, which is considered “light” relative to other crude oils. This oil also contains roughly 0.24 percent sulfur, and is therefore named “sweet.” Crude oils are some of the most closely observed commodity prices in the world. WTI is the underlying commodity of the Chicago Mercantile Exchange’s oil futures contracts. The price of other crude oils, such as UK Brent crude oil, the OPEC crude oil basket, and Dubai Fateh oil, can be compared to that of WTI crude oil. Since 1976, the price of WTI crude oil has increased notably, rising from just 12.23 U.S. dollars per barrel in 1976 to a peak of 99.06 dollars per barrel in 2008. Geopolitical conflicts and their impact on oil prices The price of oil is controlled in part by limiting oil production. Prior to 1971, the Texas Railroad Commission controlled the price of oil by setting limits on production of U.S. oil. In 1971, the Texas Railroad Commission ceased limiting production, but OPEC, the Organization of Petroleum Exporting Countries with member states Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela among others, continued to do so. In 1972, due to geopolitical conflict, OPEC set an oil embargo and cut oil production, causing prices to quadruple by 1974. Oil prices rose again in 1979 and 1980 due to the Iranian revolution, and doubled between 1978 and 1981 as the Iran-Iraq War prevented oil production. A number of geopolitical conflicts and periods of increased production and consumption have influenced the price of oil since then.

Heating Oil fell to 2.27 USD/Gal on August 29, 2025, down 1.78% from the previous day. Over the past month, Heating Oil's price has fallen 5.80%, and is down 0.65% 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 Spot Crude Oil Price: West Texas Intermediate (WTI) (WTISPLC) from Jan 1946 to Jul 2025 about WTI, crude, oil, price, and USA.

Graph and download economic data for Crude Oil Prices: Brent - Europe (WCOILBRENTEU) from 1987-05-15 to 2025-08-22 about crude, oil, Europe, commodities, and price.

In July 2025, the average price of one barrel of Brent crude oil was 71.04 U.S. dollars. This was relatively unchanged from the previous month and 14 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.

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

Palm Oil fell to 4,377 MYR/T on August 29, 2025, down 1.60% from the previous day. Over the past month, Palm Oil's price has risen 2.34%, and is up 10.03% 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 September of 2025.

This dataset contains historical daily price data for WTI (West Texas Intermediate) and Brent Crude Oil futures contracts. The data spans from April 5, 2017, to April 10, 2024, and includes key pricing information such as opening, closing, high, low, average prices, and volume for each trading day. The data was sourced using the Interactive Brokers API and includes futures contract details for both WTI and Brent Crude Oil traded on the NYMEX exchange. This dataset can be used for time series analysis, forecasting, and other financial applications related to the oil market.

Here is an overview of historical crude oil prices by month from 2010 to 2013. This brief overview highlights the fluctuations and trends in crude oil prices over time, influenced by geopolitical events, economic factors, and supply and demand dynamics.

The WTI (West Texas Intermediate) oil futures price chart provides historical price data for WTI crude oil futures contracts. It offers insights into market trends, volatility, and allows users to analyze the data using technical indicators. Traders can identify patterns and opportunities, monitor support and resistance levels, and compare oil prices to other financial instruments or indices.

Explore the historical price trends of Brent crude oil, a pivotal global oil benchmark, to gain insights into geopolitical events, economic trends, and advancements in energy technologies from the 1980s to the present.

On April 20th, 2020, the price of West Texas Intermediate crude oil slumped into negative for the first time in history, falling to negative 37.63 U.S. dollars per barrel. The ongoing coronavirus pandemic has had a catastrophic impact on the global oil and gas industry. Declining consumer demand and high levels of production output are threatening to exceed oil storage capacities, which resulted in the lowest ever oil prices noted between April 20th and April 22nd.

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