Crude oil prices gained slightly on Wednesday, as lingering fears of gasoline shortages due to an outage at the largest U.S. fuel pipeline system after a cyber attack brought futures back from an early drop of more than 1% in the previous session. On top of that, the latest API data showed crude inventories in the United States fell by 2.5 million barrels last week. On the supply side, OPEC+ started this month a gradual easing of its oil production curbs, pumping an extra 350,000 barrels a day, saying that demand will grow by 5.95 million barrels per day in 2021, helped by the swift rollout of coronavirus vaccinations worldwide. Still, the organization revised down its estimates for global oil demand for the second quarter by 300,000 bpd amid a worsening coronavirus situation in India. On Tuesday, Brent crude futures rose 23 cents, or 0.3%, to settle at $68.55 a barrel while WTI crude futures rose 36 cents, or 0.6%, to end the session at $65.28.

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 May of 2021.

Crude oil is expected to trade at 61.26 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 52.69 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
65.3200 0.04 0.06% -0.47% 8.54% 34.62% May/12
Brent
USD/Bbl
68.5400 0.01 -0.01% -0.61% 7.65% 32.32% May/12
Natural gas
USD/MMBtu
2.9390 0.02 -0.54% 0.03% 12.22% 15.75% May/12
Gasoline
USD/Gal
2.1306 0.01 -0.43% -0.96% 7.84% 51.10% May/12
Heating oil
USD/Gal
2.0372 0.00 -0.22% 1.73% 12.27% 37.28% May/12
Ethanol
USD/Gal
2.3400 0.00 0.00% -4.10% 22.83% 63.29% May/11
Naphtha
USD/T
594.59 2.17 0.37% -0.78% 10.47% 37.41% May/11
Propane
USD/Gal
0.81 0.00 0.24% -1.44% -3.91% 25.00% May/11
Uranium
USD/Lbs
30.9500 0.20 0.65% 0.16% 2.82% 0.81% May/11

Metals Price Day Weekly Monthly YTD Date
Gold
USD/t.oz
1,829.09 7.85 -0.43% 2.39% 4.89% -3.55% May/12
Silver
USD/t.oz
27.376 0.25 -0.92% 3.30% 8.08% 3.86% May/12
Platinum
USD/t.oz
1,224.61 10.79 -0.87% -0.03% 5.94% 14.88% May/12

Agricultural Price Day Weekly Monthly YTD Date
Soybeans
USd/Bu
1,660.0000 22.50 1.37% 4.93% 19.47% 27.03% May/12
Wheat
USd/Bu
763.0000 3.25 0.43% 1.26% 21.16% 19.13% May/12
Lumber
USD/1000 board feet
1,629.80 28.80 1.80% 1.29% 40.80% 86.67% May/11
Palm Oil
MYR/T
4,503.00 153.00 3.52% 11.35% 20.85% 25.08% May/12
Cheese
USD/Lbs
1.8120 0.00 0.06% 6.21% 4.56% 10.09% May/11
Milk
USD/CWT
18.89 0.03 0.16% 7.09% 5.77% 19.56% May/11
Wool
AUD/100Kg
1,313.00 6.00 -0.45% -1.57% 1.00% 12.13% May/11
Rice
USD/cwt
13.8400 0.04 -0.29% 2.63% 5.65% 13.07% May/11
Canola
CAD/T
984.40 30.90 -3.04% 5.41% 21.97% 56.38% May/11
Tea
USD/Kgs
2.91 0.00 0.00% 5.05% 9.81% 1.39% May/11
Coffee
USd/Lbs
147.90 0.45 -0.30% 6.40% 15.46% 15.32% May/11
Sugar
USd/Lbs
18.10 0.61 3.49% 5.72% 17.92% 16.85% May/11
Orange Juice
USd/Lbs
115.75 2.20 1.94% 9.87% 5.90% -6.09% May/11
Cotton
USd/Lbs
88.19 0.44 0.50% 2.27% 7.79% 12.89% May/12
Cocoa
USD/T
2,425.00 48.00 -1.94% 6.22% 2.45% -6.84% May/11
Rubber
JPY/Kg
259.20 2.20 0.86% 0.86% 18.84% -3.57% May/12
Oat
USd/Bu
390.2500 3.25 0.84% -2.07% 3.93% 8.18% May/12
Corn
USd/BU
764.5000 5.00 0.66% 1.49% 31.81% 57.95% May/12

Livestock Price Day Weekly Monthly YTD Date
Beef
BRL/Kg
20.30 0.02 0.10% -0.64% -0.68% 11.91% May/11
Poultry
BRL/Kgs
7.19 0.02 0.28% 6.20% 15.78% 19.63% May/11
Feeder Cattle
USd/Lbs
135.3250 0.13 -0.09% 4.30% -6.35% -2.61% May/11
Lean Hogs
USd/Lbs
111.4750 0.43 -0.38% 0.29% 7.68% 58.63% May/11
Live Cattle
USd/Lbs
118.6250 0.40 0.34% 4.95% -3.34% 3.13% May/11

Industrial Price Day Weekly Monthly YTD Date
Copper
USD/Lbs
4.7995 0.02 0.44% 5.74% 18.55% 36.39% May/12
Coal
USD/T
97.00 2.80 2.97% 8.26% 9.98% 19.43% May/11
Steel
CNY/T
5,868.00 165.00 2.89% 9.44% 16.52% 39.05% May/11
Iron Ore
USD/T
224.50 3.50 -1.54% 20.05% 31.29% 41.64% May/11
Lithium
CNY/T
89,000.00 0.00 0.00% -1.11% -1.11% 91.40% May/12
Bitumen
CNY/T
3,010.00 68.00 -2.21% -1.57% 9.85% 26.36% May/11
Aluminum
USD/T
2,543.25 10.75 0.42% 4.77% 13.21% 28.40% May/12
Tin
USD/T
29,897.50 35.00 -0.12% 2.34% 16.51% 47.17% May/12
Zinc
USD/T
3,008.25 5.00 -0.17% 1.87% 9.08% 9.35% May/12
Palladium
USD/t.oz
2,946.18 8.95 0.30% -0.90% 9.53% 20.37% May/12
Cobalt
USD/T
44,635.00 530.00 -1.17% -1.17% -10.28% 38.66% May/11
Lead
USD/T
2,201.25 6.50 0.30% 0.80% 12.63% 11.41% May/11
Nickel
USD/T
17,905.75 167.75 0.95% 1.48% 11.30% 8.17% May/11
Molybdenum
USD/Kg
27.00 0.00 0.00% 0.00% -3.74% 14.89% May/11
Soda Ash
CNY/T
1,760.00 2.00 -0.11% 0.46% 0.46% 31.34% May/11
Neodymium
CNY/T
655,000.00 40,000.00 -5.76% -5.76% -14.38% 5.22% May/11
Iron Ore 62% fe
USD/T
215.29 0.19 -0.09% 13.48% 25.88% 38.15% May/11
Manganese
CNY/T
31.50 0.00 0.00% 2.44% 4.13% 0.80% May/11
Rhodium
USD/t oz.
27,700.00 700.00 -2.46% -6.10% -2.81% 62.94% May/11

Index Price Day Weekly Monthly YTD Date
CRB Index
Index Points
220.57 1.48 0.68% 2.52% 11.34% 23.71% May/11
LME Index
Index Points
4,402.20 23.90 0.55% 4.01% 15.47% 28.93% May/11
S&P GSCI
Index Points
2,517.15 16.50 0.66% 1.46% 11.41% 27.32% May/11