Crude Oil fell to 66.46 USD/Bbl on July 4, 2025, down 0.56% from the previous day. Over the past month, Crude Oil's price has risen 4.87%, but it is still 20.09% 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.

The 2025 annual OPEC oil price stood at ***** U.S. dollars per barrel, as of May. 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.

Brent fell to 68.29 USD/Bbl on July 4, 2025, down 0.52% from the previous day. Over the past month, Brent's price has risen 4.51%, but it is still 21.09% 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.

Despite their widespread use as predictors of the spot price of oil, oil futures prices tend to be less accurate in the mean-squared prediction error sense than no-change forecasts. This result is driven by the variability of the futures price about the spot price, as captured by the oil futures spread. This variability can be explained by the marginal convenience yield of oil inventories. Using a two-country, multi-period general equilibrium model of the spot and futures markets for crude oil we show that increased uncertainty about future oil supply shortfalls under plausible assumptions causes the spread to decline. Increased uncertainty also causes precautionary demand for oil to increase, resulting in an immediate increase in the real spot price. Thus the negative of the oil futures spread may be viewed as an indicator of fluctuations in the price of crude oil driven by precautionary demand. An empirical analysis of this indicator provides evidence of how shifts in the uncertainty about future oil supply shortfalls affect the real spot price of crude oil.

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.

About the ProjectKAPSARC is analyzing the shifting dynamics of the global gas markets. Global gas markets have turned upside down during the past five years: North America has emerged as a large potential future LNG exporter while gas demand growth has been slowing down as natural gas gets squeezed between coal and renewables. While the coming years will witness the fastest LNG export capacity expansion ever seen, many questions are raised on the next generation of LNG supply, the impact of low oil and gas prices on supply and demand patterns and how pricing and contractual structure may be affected by both the arrival of U.S. LNG on global gas markets and the desire of Asian buyers for cheaper gas.Key PointsIn the past year, global gas prices have dropped significantly, albeit at unequal paces depending on the region. All else being equal, economists would suggest that this should have generated a positive demand response. However, “all else” was not equal. Prices of other commodities also declined while economic growth forecasts were downgraded. Prices at benchmark points such as the U.K. National Balancing Point (NBP), U.S. Henry Hub (HH) and Japan/Korea Marker (JKM) slumped due to lower oil prices, liquefied natural gas (LNG) oversupply and unseasonal weather. Yet, the prices of natural gas in local currencies have increased in a number of developing countries in Africa, the Middle East, Latin America, former Soviet Union (FSU) and Asia. North America experienced demand growth while gas in Europe and Asia faced rising competition from cheaper coal, renewables and, in some instances, nuclear. Gains to European demand were mostly weather related while increases in Africa and Latin America were not significant. For LNG, Europe became the market of last resort as Asian consumption declined. Moreover, an anticipated surge in LNG supply, brought on by several new projects, may lead to a confrontation with Russian or other pipeline gas suppliers to Europe. At the same time, Asian buyers are seeking concessions on pricing and flexibility in their long-term contracts. Looking ahead, natural gas has to prove itself a credible and affordable alternative to coal, notably in Asia, if the world is to reach its climate change targets. The future of the gas industry will also depend on oil prices, evolution of Chinese energy demand and impact of COP21 on national energy policies. Current low prices mean there is likely to be a pause in final investment decisions (FIDs) on LNG projects in the coming years.

There has been a systematic increase in the volatility of the real price of crude oil since 1986, followed by a decline in the volatility of oil production since the early 1990s. We explore reasons for this evolution. We show that a likely explanation of this empirical fact is that both the short-run price elasticities of oil demand and of oil supply have declined considerably since the second half of the 1980s. This implies that small disturbances on either side of the oil market can generate large price responses without large quantity movements, which helps explain the latest run-up and subsequent collapse in the price of oil. Our analysis suggests that the variability of oil demand and supply shocks actually has decreased in the more recent past, preventing even larger oil price fluctuations than observed in the data.

The global food prices have surged to historical highs, and there is no consensus on the reasons behind this round of price increases in academia. Based on theoretical analysis, this study uses monthly data from January 2000 to May 2022 and machine learning models to examine the root causes of that period’s global food price surge and global food security situation. The results show that: Firstly, the increase in the supply of US dollars and the rise in oil prices during pandemic are the two most important variables affecting food prices. The unlimited quantitative easing monetary policy of the US dollar is the primary factor driving the global food price surge, and the alternating impact of oil prices and excessive US dollar liquidity are key features of the surge. Secondly, in the context of the global food shortage, the impact of food production reduction and demand growth expectations on food prices will further increase. Thirdly, attention should be paid to potential agricultural import supply chain risks arising from international uncertainty factors such as the ongoing Russia-Ukraine conflict. The Russian-Ukrainian conflict has profoundly impacted the global agricultural supply chain, and crude oil and fertilizers have gradually become the main driving force behind the rise in food prices.

Oils Price Index in World increased to 155.70 Index Points in June from 152.20 Index Points in May of 2025. This dataset includes a chart with historical data for World Oils Price Index.

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

Wheat fell to 562.25 USd/Bu on July 3, 2025, down 0.31% from the previous day. Over the past month, Wheat's price has risen 3.50%, but it is still 4.78% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Wheat - values, historical data, forecasts and news - updated on July of 2025.

This paper uses a simple VAR for the USA and Euro area to analyse the underlying shocks of the early millennium slowdown, i.e. supply, demand, monetary policy and oil price shocks. The results of two identification strategies are compared. One is based on traditional zero restrictions and, as an alternative, an identification scheme based on more recent sign restrictions is proposed. The main conclusion is that the recent slowdown is caused by a combination of several shocks: negative aggregate supply and aggregate spending shocks, the increase of oil prices in 1999, and restrictive monetary policy in 2000. These shocks are more pronounced in the USA than the Euro area. The results are somewhat different depending on the identification strategy. It is illustrated that traditional zero restrictions can have an influence on the estimated impact of certain shocks.

The U.S. outer continental shelf is a major source of energy for the United States. The rapid growth of oil and gas production in the Gulf of Mexico increases the risk of underwater oil spills at greater water depths and drilling wells. These hydrocarbons leakages can be caused by either natural events, such as seeping from fissures in the ocean seabed, or by anthropogenic accidents, such as leaking from broken wellheads and pipelines. In order to improve safety and reduce the environmental risks of offshore oil and gas operations, the Bureau of Safety and Environmental Enforcement recommended the use of real-time monitoring. An early warning system for detecting, locating, and characterizing hydrocarbon leakages is essential for preventing the next oil spill as well as for seafloor hydrocarbon seepage detection. Existing monitoring techniques have significant limitations and cannot achieve real-time monitoring. This project launches an effort to develop a functional real-time monitoring system that uses passive acoustic technologies to detect, locate, and characterize undersea hydrocarbon leakages over large areas in a cost-effective manner. In an oil spill event, the leaked hydrocarbon is injected into seawater with huge amounts of discharge at high speeds. With mixed natural gases and oils, this hydrocarbon leakage creates underwater sound through two major mechanisms: shearing and turbulence by a streaming jet of oil droplets and gas bubbles, and bubble oscillation and collapse. These acoustic emissions can be recorded by hydrophones in the water column at far distances. They will be characterized and differentiated from other underwater noises through their unique frequency spectrum, evolution and transportation processes and leaking positions, and further be utilized to detect and position the leakage locations. With the objective of leakage detection and localization, our approach consists of recording and modeling the acoustic signals induced by the oil-spill and implementing advanced signal processing and triangulation localization techniques with a hydrophone network. Tasks of this project were: 1. Conduct a laboratory study to simulate hydrocarbon leakages and their induced sound under controlled conditions, and to establish the correlation between frequency spectra and leakage properties, such as oil-jet intensities and speeds, bubble radii and distributions, and crack sizes. 2. Implement and develop acoustic bubble modeling for estimating features and strength of the oil leakage. 3. Develop a set of advanced signal processing and triangulation algorithms for leakage detection and localization. The experimental data have been collected in a water tank in the building of the National Center for Physical Acoustics, the University of Mississippi from 2018-2020, including hydrophone recorded underwater sounds generated by oil leakage bubbles under different testing conditions, such as pressures, flow rates, jet velocities, and crack sizes, and movies of oil leakages. Two types of oil leakages (a few bubbles and constant flow bubbles) were tested to simulate oil seepages either from seafloors or from oil well and pipe-line breaches. Two types of gases were investigated (nitrogen and methane). These data were analyzed for acoustic bubble modeling, oil leakage characterization, and localization. This dataset contains data for acoustic bubble sound modeling of nitrogen and methane, using a range of jet sizes and flow rates. The data for oil leakage source localization is available under GRIIDC Unique Dataset Identifier (UDI): S3.x911.000:0003 (DOI: 10.7266/4S9EBZKX).

Iron Ore rose to 96.24 USD/T on July 3, 2025, up 1.17% from the previous day. Over the past month, Iron Ore's price has fallen 0.02%, and is down 13.54% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Iron Ore - values, historical data, forecasts and news - updated on July of 2025.

Gasoline Prices in Vietnam increased to 0.80 USD/Liter in June from 0.74 USD/Liter in May of 2025. This dataset provides the latest reported value for - Vietnam Gasoline Prices - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Monthly indexes and percentage changes for major components and special aggregates of the Consumer Price Index (CPI), not seasonally adjusted, for Canada, provinces, Whitehorse, Yellowknife and Iqaluit. Data are presented for the corresponding month of the previous year, the previous month and the current month. The base year for the index is 2002=100.

As of February 2025, the average price of gasoline in Nigeria was around ***** Nigerian naira (NGN) per liter, around **** U.S. dollars. Compared to the previous month, the price decreased. In February 2024, the average price of petrol in the country stood at approximately *** NGN.

The Gross Domestic Product (GDP) in Saudi Arabia expanded 1.10 percent in the first quarter of 2025 over the previous quarter. This dataset provides - Saudi Arabia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Cotton rose to 66.92 USd/Lbs on July 4, 2025, up 1.93% from the previous day. Over the past month, Cotton's price has risen 2.46%, and is up 0.35% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Cotton - values, historical data, forecasts and news - updated on July of 2025.