Oil is heading for a 20% monthly gain in February, the fourth consecutive month of gains and the most since November. Both WTI and Brent recovered to pre-pandemic levels earlier this month, bolstered by tightening global supplies and prospects of an economic recovery driven by a COVID-19 vaccination campaign globally and fiscal stimulus. Further supporting prices was a fall of almost 6 million barrels of combined production in the US because of the cold blast last week that forced the shutdown of wells and processing plants. Meantime, traders started to worry about a looming increase in crude oil supplies from OPEC+ as the cartel meets on March 4th while refineries in Texas began to resume operations. In the New York morning trading, WTI was trading around $62.2 a barrel and Brent about $66.1 a barrel.

Historically, Crude oil reached an all time high of 147.27 in July of 2008. Crude oil - data, forecasts, historical chart - was last updated on February of 2021.

Crude oil is expected to trade at 59.61 USD/BBL by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 51.27 in 12 months time.

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Crude oil


Crude oil
The West Texas Intermediate (WTI) benchmark for US crude is the world's most actively traded commodity. Crude Oil prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Energy Price Day Weekly Monthly YTD Date
Crude Oil
USD/Bbl
62.5500 0.97 -1.53% 5.55% 18.35% 28.92% Feb/26
Brent
USD/Bbl
66.1000 0.78 -1.17% 5.07% 19.03% 27.61% Feb/26
Natural gas
USD/MMBtu
2.7390 0.04 -1.37% -10.75% 1.37% 7.88% Feb/26
Gasoline
USD/Gal
1.8937 0.00 0.07% 4.80% 20.07% 34.30% Feb/26
Heating oil
USD/Gal
1.8722 0.03 -1.80% 2.70% 16.37% 26.16% Feb/26
Ethanol
USD/Gal
1.6900 0.00 0.00% 0.00% 10.46% 17.93% Feb/25
Naphtha
USD/T
555.65 0.44 -0.08% 0.94% 11.14% 28.41% Feb/25
Propane
USD/Gal
0.91 0.00 -0.22% -2.38% 5.07% 41.56% Feb/25
Uranium
USD/Lbs
28.5500 0.05 -0.17% -1.55% -5.62% -7.00% Feb/25

Metals Price Day Weekly Monthly YTD Date
Gold
USD/t.oz
1,724.13 45.75 -2.58% -3.26% -6.50% -9.09% Feb/26
Silver
USD/t.oz
26.406 0.99 -3.63% -2.96% 4.62% 0.18% Feb/26
Platinum
USD/t.oz
1,179.72 36.56 -3.01% -7.40% 10.72% 10.67% Feb/26

Agricultural Price Day Weekly Monthly YTD Date
Soybeans
USd/Bu
1,396.0000 10.75 -0.76% 1.31% 1.66% 6.04% Feb/26
Wheat
USd/Bu
661.2500 10.50 -1.56% 1.61% 0.46% 3.24% Feb/26
Palm Oil
MYR/T
3,718.00 66.00 -1.74% 5.57% 9.74% 3.28% Feb/26
Cheese
USD/Lbs
1.5830 0.00 0.13% 0.13% -4.87% -3.83% Feb/25
Milk
USD/CWT
15.63 0.02 -0.13% 0.13% -3.16% -1.08% Feb/26
Rubber
JPY/Kg
271.40 11.40 -4.03% 7.36% 13.51% 0.97% Feb/26
Orange Juice
USd/Lbs
105.50 2.40 -2.22% -3.70% -7.70% -14.40% Feb/26
Coffee
USd/Lbs
139.00 0.20 -0.14% 9.02% 10.76% 8.38% Feb/26
Lumber
USD/1000 board feet
988.50 18.50 -1.84% -0.18% 14.28% 13.22% Feb/26
Oat
USd/Bu
370.2500 1.50 0.41% 6.24% 5.04% 2.63% Feb/26
Wool
AUD/100Kg
1,306.00 4.00 -0.31% -0.91% 8.65% 11.53% Feb/25
Cotton
USd/Lbs
88.24 4.09 -4.43% -0.55% 7.99% 12.95% Feb/25
Cocoa
USD/T
2,705.00 55.00 2.08% 5.75% 6.29% 3.92% Feb/25
Rice
USD/cwt
12.8200 0.02 0.12% -0.39% -4.72% 4.74% Feb/26
Canola
CAD/T
789.70 0.40 -0.05% 2.09% 10.02% 25.45% Feb/26
Sugar
USd/Lbs
17.64 0.20 -1.12% -0.84% 11.65% 13.88% Feb/26
Tea
USD/Kgs
2.91 0.05 1.75% 1.75% -7.03% 1.39% Feb/25
Corn
USd/BU
551.7500 3.00 -0.54% 1.66% 3.32% 14.00% Feb/26

Livestock Price Day Weekly Monthly YTD Date
Beef
BRL/Kg
19.37 0.15 0.78% 2.76% 0.89% 6.78% Feb/25
Feeder Cattle
USd/Lbs
140.1750 0.25 -0.18% 1.43% 3.34% 0.88% Feb/26
Live Cattle
USd/Lbs
116.0250 0.98 -0.83% 0.09% -0.37% 0.87% Feb/26
Lean Hogs
USd/Lbs
89.9250 0.18 0.20% 6.42% 27.42% 27.96% Feb/26
Poultry
BRL/Kgs
6.06 0.00 0.00% -6.05% -0.49% 0.83% Feb/25

Industrial Price Day Weekly Monthly YTD Date
Copper
USD/Lbs
4.1390 0.09 -2.12% 1.70% 15.60% 17.65% Feb/26
Lithium
CNY/T
70,500.00 0.00 0.00% 4.44% 23.68% 51.61% Feb/26
Bitumen
CNY/T
3,124.00 152.00 -4.64% 2.29% 17.80% 31.15% Feb/26
Steel
CNY/T
4,622.00 111.00 2.46% 5.00% 10.52% 9.53% Feb/25
Coal
USD/T
80.00 0.40 0.50% 5.61% -8.10% -1.50% Feb/26
Palladium
USD/t.oz
2,335.24 65.52 -2.73% -1.81% 1.35% -4.59% Feb/26
Cobalt
USD/T
51,800.00 0.00 0.00% 5.71% 28.25% 60.92% Feb/25
Lead
USD/T
2,145.00 39.25 1.86% 2.01% 4.06% 8.57% Feb/25
Aluminum
USD/T
2,191.25 27.00 -1.22% 3.62% 10.39% 10.63% Feb/26
Tin
USD/T
25,892.50 680.00 -2.56% -1.30% 13.64% 27.46% Feb/26
Zinc
USD/T
2,834.25 31.00 -1.08% -1.11% 10.13% 3.03% Feb/26
Nickel
USD/T
19,158.00 503.00 -2.56% 0.23% 6.37% 15.73% Feb/25
Molybdenum
USD/Kg
26.50 0.00 0.00% 0.00% 6.00% 12.77% Feb/25
Iron Ore
USD/T
173.00 1.00 0.58% 2.06% 4.53% 9.15% Feb/25
Soda Ash
CNY/T
1,536.00 0.00 0.00% 12.94% 13.78% 14.63% Feb/26
Neodymium
CNY/T
782,500.00 0.00 0.00% 10.21% 10.21% 25.70% Feb/25
Iron Ore 62% fe
USD/T
165.6100 0.59 0.36% 0.94% -2.16% 6.27% Feb/26
Rhodium
USD/t oz.
25,300.00 900.00 3.69% 10.48% 29.74% 48.82% Feb/25
Manganese
CNY/T
31.25 0.00 0.00% 0.00% -1.57% 0.00% Feb/25

Index Price Day Weekly Monthly YTD Date
CRB Index
Index Points
206.78 0.57 -0.28% 3.14% 10.93% 15.98% Feb/25
LME Index
Index Points
4,026.50 41.00 1.03% 7.10% 14.18% 17.92% Feb/25
S&P GSCI
Index Points
2,350.45 3.04 -0.13% 3.36% 12.55% 18.89% Feb/25