Crude Oil fell to 65.37 USD/Bbl on July 2, 2025, down 0.12% from the previous day. Over the past month, Crude Oil's price has risen 3.09%, but it is still 21.43% 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.

We study the effects of releases from the US Strategic Petroleum Reserve (SPR) within the context of fully specified models of the global oil market that explicitly allow for storage demand as well as unanticipated changes in the SPR. We show that historically SPR policy interventions, defined as sequences of exogenous SPR shocks during selected periods, have helped stabilize the price of oil. Their effect on the price of oil, however, has been modest. For example, the cumulative effect of the SPR releases after the invasion of Kuwait in 1990 was a reduction of $2 per barrel in the real price of oil after 7 months. Whereas emergency drawdowns tend to lower the real price of oil, we find that exchanges tend to raise the real price of oil in the long run. We also provide a detailed analysis of the benefits of the 2018 White House proposal to sell off half of the SPR within the next decade. We show that the expected fiscal benefits of this plan are somewhat higher than the revenue of $16.6 billion dollars projected by the White House.

Brent fell to 67 USD/Bbl on July 2, 2025, down 0.16% from the previous day. Over the past month, Brent's price has risen 2.09%, but it is still 22.66% 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.

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.

Heating Oil rose to 2.41 USD/Gal on July 2, 2025, up 3.25% from the previous day. Over the past month, Heating Oil's price has risen 14.80%, but it is still 8.30% 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.

Palm Oil rose to 4,079 MYR/T on July 3, 2025, up 0.39% from the previous day. Over the past month, Palm Oil's price has risen 3.27%, and is up 0.30% 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.

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.

This dataset comes from the Energy Information Administration (EIA), and is part of the 2011 Annual Energy Outlook Report (AEO2011). This dataset is Table 12, and contains only the reference case. The dataset uses 2009 dollars per gallon. The data is broken down into crude oil prices, residential; commercial, industrial, transportation, electric power and refined petroleum product prices.

Sunflower Oil fell to 1,233.70 INR/10 kg on July 1, 2025, down 0.84% from the previous day. Over the past month, Sunflower Oil's price has fallen 2.71%, but it is still 32.78% 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.

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.

Urals Oil fell to 61.57 USD/Bbl on July 1, 2025, down 2.98% from the previous day. Over the past month, Urals Oil's price has risen 6.16%, but it is still 24.30% lower 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 Urals Crude.

Natural gas rose to 3.50 USD/MMBtu on July 2, 2025, up 2.45% from the previous day. Over the past month, Natural gas's price has fallen 6.00%, but it is still 43.21% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Natural gas - values, historical data, forecasts and news - updated on July of 2025.

Gasoline rose to 2.10 USD/Gal on July 1, 2025, up 1.85% from the previous day. Over the past month, Gasoline's price has risen 1.77%, but it is still 18.30% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Gasoline - values, historical data, forecasts and news - updated on July of 2025.

The average price of Indian basket crude oil was estimated to reach ***** U.S. dollars per barrel in the financial year 2024. While Indian basket crude oil prices have fluctuated during the reported period, this figure significantly decreased from the previous year’s average of ***** U.S. dollars. The average price of crude oil went up marginally around the financial year 2012, touching almost *** U.S. dollars per barrel. Recent trends in the Indian oil industry The last several years have seen a slight but steady increase in Indian crude oil refinery capacity. However, the annual domestic crude oil production volume has consistently decreased. Not surprisingly, the volume of crude oil imports had recently been on the rise for several years. The future of the Indian energy sector As the third-largest primary energy consumer globally, India relies on various sources to meet its energy demands. At the same time, a significant increase in primary energy consumption across various sources is projected for the coming decades, with renewables playing a vital role in the Indian energy transition.

In August, 1990, Robert H. Gentile, The DOE's Assistant Secretary for Fossil Energy, appointed a Task Force, comprising technical and management expertise, to put into place the Department's new Oil Research Program Implementation Plan. This new plan grew out of DOE's continuing effort to formulate a National Energy Strategy. Research directed toward near- and mid-term results has been added to the previous program emphasis on long-term, high-risk research, in order to address the needs of current conditions in the petroleum industry. The 1986 price collapse, falling domestic production, and increased well abandonments that threaten future access to reservoirs containing a vast potential of recoverable oil were the major factors that led to this new direction.

Although falling oil prices and the generally dismal economic outlook have resulted in many synfuel project cancellations and deferrals, the developers of the New England Energy Park have determined, on the basis of this feasibility study, that a coal based, synthetic fuel facility is environmentally, technically, and politically viable in the New England region. The major area of uncertainty involves the financial/economic issues which relate directly to the construction and operation of a multibillion dollar energy production facility. The NEEP developers are now reasonably confident the products produced by the project can be sold to displace foreign oil products. However, despite its ability to displace foreign oil, the project is subject to operating losses in the first years of operation before unit production costs reach stability. The financial issues that face the NEEP development group center around the risks present in a multibillion dollar pioneer energy production facility and the ability or willingness of the participants to absorb these risks. NEEP has structured a risk mitigation strategy that addresses all of these factors; but real risks remain which require support from the United States Synthetic Fuels Corporation (SFC) to encourage investors to participate in the project.

The increasing U.S. energy demands, decreasing conventional crude oil reserves, and decontrol of crude oil prices have resulted in significant numbers of projects in U.S. tar sands. Data are reported for 62 projects involving in situ, mining and plant extraction, modified in situ and upgrading technologies. The data include operator name, project location, project status (completed, current, or planned), project type (commercial or pilot), reservoir and oil characteristics, and estimated product costs. The cost estimates per unit of produced oil provide encouragement of the commercialization of the U.S. tar sand resource.

Iron Ore fell to 93.41 USD/T on July 1, 2025, down 1.12% from the previous day. Over the past month, Iron Ore's price has fallen 2.65%, and is down 15.33% 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.