Oil prices dropped nearly 1% on Tuesday, with investors shrugging off the recent attack on two major oilfields in the southwest of Libya which led to a cut in the country’s oil production. The oil market is expected to remain well supplied in 2020, due to increased production from non-OPEC countries. US crude oil fell nearly 0.7% to $58.29 a barrel while Brent dropped 0.9% to $64.51 a barrel around midday NY time. Historically, Crude oil reached an all time high of 147.27 in July of 2008.

Crude oil is expected to trade at 64.91 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 69.88 in 12 months time.


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Crude oil

Crude oil
Crude oil 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 Yearly Date
Crude Oil 58.3021 0.54 -0.92% 0.13% -3.50% 10.90% Jan/21
Brent 64.3810 0.70 -1.07% -0.06% -1.67% 4.68% Jan/21
Natural gas 1.9029 0.02 -1.16% -11.52% -12.82% -37.40% Jan/21
Gasoline 1.6516 0.00 -0.15% -1.02% -4.07% 17.85% Jan/21
Heating oil 1.8324 0.04 -2.35% -3.87% -9.16% -3.62% Jan/21
Ethanol 1.3604 0.01 -1.03% -0.44% -2.13% 7.03% Jan/21
Naphtha 545.86 3.49 0.64% 2.35% 1.15% 17.87% Jan/17
Propane 0.44 0.00 -0.07% -4.42% -15.46% -34.50% Jan/17
Uranium 24.6000 0.05 0.20% 0.41% -3.34% -14.88% Jan/17

Metals Price Day Weekly Monthly Yearly Date
Gold 1,560.71 1.67 -0.11% 0.69% 5.05% 21.49% Jan/21
Silver 17.8120 0.26 -1.45% -0.20% 2.03% 16.18% Jan/21
Platinum 1,001.19 14.32 -1.41% 1.81% 6.94% 27.05% Jan/21

Agricultural Price Day Weekly Monthly Yearly Date
Soybeans 913.4182 12.84 -1.38% -2.95% -3.20% 0.46% Jan/21
Wheat 581.5801 9.96 1.74% 2.34% 7.55% 11.57% Jan/21
Cotton 69.24 2.01 -2.82% -3.00% 0.92% -5.32% Jan/21
Rice 13.4600 0.06 -0.41% 3.14% 4.22% 26.39% Jan/21
Cheese 1.8050 0.00 0.06% 0.67% -11.95% 30.14% Jan/21
Palm Oil 2,592.00 30.00 -1.14% -4.64% -2.19% 19.83% Jan/21
Milk 17.03 0.02 0.12% 0.53% -12.08% 21.73% Jan/21
Rubber 168.20 0.90 -0.53% -5.08% -3.50% -18.15% Jan/21
Orange Juice 95.80 0.75 0.79% -0.78% -5.34% -19.63% Jan/21
Coffee 111.05 1.10 -0.98% -3.35% -11.37% 7.45% Jan/21
Wool 1,609.00 0.00 0.00% 3.27% 3.27% -16.33% Jan/20
Tea 2.51 0.00 0.00% -10.36% 0.40% -19.29% Jan/20
Cocoa 2,818.00 21.00 0.75% 6.14% 16.11% 25.47% Jan/21
Canola 476.80 4.20 -0.87% 0.48% 1.99% -1.79% Jan/21
Sugar 14.55 0.10 0.69% 1.61% 8.18% 12.53% Jan/21
Lumber 424.50 5.50 -1.28% 8.85% 3.89% 16.81% Jan/21
Oat 313.9733 2.44 0.78% 0.21% 8.57% 5.71% Jan/21
Corn 387.3682 1.33 -0.34% -0.19% -0.41% 2.21% Jan/21

Livestock Price Day Weekly Monthly Yearly Date
Live Cattle 126.5548 0.24 0.19% -0.67% 0.44% 1.14% Jan/21
Lean Hogs 67.4340 0.01 -0.01% -0.58% -3.39% 9.69% Jan/21
Beef 13.05 0.59 -4.33% -3.05% -9.00% 25.84% Jan/20
Poultry 5.13 0.02 -0.39% 0.20% -4.47% 20.99% Jan/20
Feeder Cattle 144.5510 0.19 0.13% -0.64% 0.37% 2.48% Jan/21

Industrial Price Day Weekly Monthly Yearly Date
Copper 2.7878 0.06 -2.05% -2.75% -0.83% 3.67% Jan/21
Steel 3,702.00 8.00 0.22% -2.60% -1.04% 0.52% Jan/21
Bitumen 3,182.00 10.00 -0.31% -3.58% 6.00% 5.64% Jan/21
Coal 70.27 0.68 -0.96% -6.72% 3.34% -29.34% Jan/21
Palladium 2,401.00 98.06 -3.92% 9.42% 28.01% 78.51% Jan/21
Cobalt 32,250.00 0.00 0.00% -1.53% -1.53% -15.13% Jan/20
Lead 1,953.00 21.25 -1.08% 3.07% 2.74% -2.97% Jan/20
Aluminum 1,812.00 7.00 0.39% 0.78% 0.44% -3.77% Jan/20
Tin 17,850.00 40.00 0.22% 2.73% 3.18% -12.61% Jan/20
Zinc 2,444.00 14.50 0.60% 2.78% 6.68% -5.12% Jan/20
Nickel 13,940.50 104.50 0.76% -0.48% -2.38% 21.05% Jan/20
Molybdenum 22.05 0.00 0.00% 0.00% 0.00% -19.08% Jan/20
Iron Ore 96.50 0.50 0.52% 3.21% 4.89% 29.01% Jan/20
Neodymium 367,500.00 0.00 0.00% 0.14% 0.82% -7.66% Jan/20
Rhodium 9,100.00 500.00 5.81% 12.35% 47.97% 266.94% Jan/20
Lithium 120.32 0.54 0.45% 4.89% 10.08% 9.16% Jan/20
Iron Ore 62% fe 94.8100 0.26 0.28% 1.33% 2.95% 26.16% Jan/17
Manganese 31.50 0.00 0.00% 0.00% 0.00% -20.25% Jan/20
Soda Ash 1,550.00 0.00 0.00% 0.00% -0.64% -25.48% Jan/21

Index Price Day Weekly Monthly Yearly Date
Baltic Dry 729.00 25.00 -3.32% -5.81% -40.29% -29.63% Jan/20
LME Index 2,894.30 1.70 0.06% 0.42% 1.41% 1.79% Jan/20
S&P GSCI 2,536.32 0.00 0.00% 0.14% -1.39% 6.01% Jan/20
CRB Index 192.49 1.21 -0.63% -1.02% -1.37% 3.63% Jan/21