Brent crude futures traded around $70 a barrel on Thursday, the lowest since July 21st amid rising inventories and demand concerns. Government data on Wednesday showed US crude stockpiles rose by 3.63 million barrels last week, the biggest gain since March. Meantime, both the US and China are witnessing a spike in coronavirus cases amid the highly contagious delta variant, threatening demand at the peak summer driving season and limiting air traffic. Yet, Saudi Aramco lifted oil prices for the US by 10-20 cents a barrel and Asia by 20-60 cents a barrel for September as the oil market is nonetheless seen tight on the back of the global economic recovery from last year’s Covid-19 crisis. Elsewhere, tension in the Middle East put a floor under prices.

Historically, Brent crude oil reached an all time high of 147.50 in July of 2008. Brent crude oil - data, forecasts, historical chart - was last updated on August of 2021.

Brent crude oil is expected to trade at 80.40 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 94.06 in 12 months time.

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Brent crude oil


Brent crude oil
Brent Crude oil is a major benchmark price for purchases of oil worldwide. While Brent Crude oil is sourced from the North Sea the oil production coming from Europe, Africa and the Middle East flowing West tends to be priced relative to this oil. The Brent 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
68.7200 0.57 0.84% -6.66% -6.34% 41.63% Aug/05
Brent
USD/Bbl
70.7700 0.39 0.55% -5.77% -5.04% 36.62% Aug/05
Natural gas
USD/MMBtu
4.1300 0.03 -0.67% 1.75% 13.56% 62.66% Aug/05
Gasoline
USD/Gal
2.2568 0.01 0.30% -2.94% 1.28% 60.05% Aug/05
Heating oil
USD/Gal
2.0831 0.01 0.43% -4.97% -1.04% 40.37% Aug/05
Ethanol
USD/Gal
2.2200 0.00 0.00% -4.31% -10.48% 54.92% Aug/04
Naphtha
USD/T
649.69 13.79 -2.08% -3.39% -2.60% 50.15% Aug/04
Propane
USD/Gal
1.08 0.01 -0.96% -0.94% -3.03% 67.53% Aug/04
Uranium
USD/Lbs
32.2500 0.00 0.00% -0.46% -1.38% 5.05% Aug/04
Methanol
CNY
2,563.00 8.00 -0.31% -1.84% 0.55% 6.08% Aug/05

Metals Price Day Weekly Monthly YTD Date
Gold
USD/t.oz
1,810.73 0.68 -0.04% -0.94% 0.78% -4.52% Aug/05
Silver
USD/t.oz
25.420 0.06 0.25% -0.43% -2.73% -3.56% Aug/05
Platinum
USD/t.oz
1,017.52 8.09 -0.79% -4.05% -6.80% -4.54% Aug/05

Agricultural Price Day Weekly Monthly YTD Date
Soybeans
USd/Bu
1,397.0000 6.50 -0.46% -2.60% 2.44% 6.91% Aug/05
Wheat
USd/Bu
721.5000 4.25 0.59% 2.30% 16.37% 12.65% Aug/05
Lumber
USD/1000 board feet
564.50 42.00 -6.93% -7.19% -28.81% -35.35% Aug/04
Palm Oil
MYR/T
4,230.00 61.00 -1.42% -4.45% 9.84% 17.50% Aug/05
Cheese
USD/Lbs
1.5960 0.00 0.06% -0.25% -1.48% -3.04% Aug/04
Milk
USD/CWT
16.21 0.18 1.12% -1.64% -3.17% 2.59% Aug/05
Rubber
JPY/Kg
207.00 3.30 -1.57% -1.66% -7.59% -22.99% Aug/05
Orange Juice
USd/Lbs
133.45 4.10 3.17% -4.30% 12.05% 8.28% Aug/04
Coffee
USd/Lbs
174.50 1.15 -0.65% -11.20% 16.84% 36.06% Aug/05
Cotton
USd/Lbs
90.72 0.52 0.58% -0.21% 5.02% 16.13% Aug/04
Cocoa
USD/T
2,413.00 20.00 0.84% -0.90% 6.35% -7.30% Aug/05
Rice
USD/cwt
13.1600 0.24 -1.79% -3.80% 5.11% 7.52% Aug/05
Canola
CAD/T
868.60 4.20 -0.48% -1.12% 4.50% 37.98% Aug/05
Oat
USd/Bu
442.2500 1.75 -0.39% -4.64% 16.92% 22.59% Aug/05
Wool
AUD/100Kg
1,428.00 0.00 0.00% 0.00% 0.35% 21.95% Aug/04
Sugar
USd/Lbs
17.95 0.02 0.11% -1.91% 0.45% 15.88% Aug/05
Tea
USD/Kgs
3.34 0.00 0.00% 0.00% 12.84% 16.38% Aug/04
Corn
USd/BU
550.5000 4.75 0.87% -1.34% -16.08% 13.74% Aug/05

Livestock Price Day Weekly Monthly YTD Date
Beef
BRL/Kg
20.11 0.04 -0.20% -0.69% -0.94% 10.86% Aug/04
Feeder Cattle
USd/Lbs
158.8750 0.03 -0.02% -0.81% -1.09% 14.34% Aug/04
Live Cattle
USd/Lbs
123.9500 0.70 0.57% 0.71% 1.27% 7.76% Aug/04
Lean Hogs
USd/Lbs
109.3750 0.30 0.28% 3.48% -0.50% 55.64% Aug/04
Poultry
BRL/Kgs
8.05 0.19 2.42% 2.81% 9.38% 33.94% Aug/04

Industrial Price Day Weekly Monthly YTD Date
Copper
USD/Lbs
4.3240 0.01 -0.14% -4.34% 1.55% 22.88% Aug/05
Coal
USD/T
139.73 13.02 -8.52% -6.91% 1.99% 73.58% Aug/04
Steel
CNY/T
5,518.00 87.00 1.60% -2.46% 10.25% 30.76% Aug/05
Iron Ore
USD/T
191.50 0.00 0.00% -5.43% -13.35% 20.82% Aug/04
Lithium
CNY/T
92,500.00 0.00 0.00% 3.93% 3.93% 98.92% Aug/05
Bitumen
CNY/T
3,160.00 20.00 -0.63% -2.65% -9.71% 32.66% Aug/05
Cobalt
USD/T
52,500.00 0.00 0.00% 0.00% 3.96% 63.09% Aug/04
Lead
USD/T
2,440.00 1.51 0.06% 2.82% 6.60% 23.50% Aug/04
Aluminum
USD/T
2,579.00 15.50 0.60% 1.00% 1.40% 30.20% Aug/05
Tin
USD/T
34,547.50 95.00 -0.27% -0.07% 8.89% 70.06% Aug/05
Zinc
USD/T
2,981.25 18.25 0.62% 0.48% 1.15% 8.37% Aug/05
Nickel
USD/T
19,235.00 147.50 -0.76% -1.52% 4.47% 16.20% Aug/04
Molybdenum
USD/Kg
42.75 0.00 0.00% 0.00% -15.35% 81.91% Aug/04
Palladium
USD/t.oz
2,662.67 16.25 0.61% 0.63% -4.68% 8.78% Aug/05
Rhodium
USD/t oz.
19,000.00 100.00 0.53% 3.26% 0.00% 11.76% Aug/04
Gallium
CNY/Kg
1,940.00 20.00 -1.02% -2.27% -8.27% 11.49% Aug/04
Germanium
CNY/Kg
8,150.00 0.00 0.00% 3.16% 6.54% 14.79% Aug/04
Manganese
CNY/T
32.75 0.00 0.00% 0.00% 1.55% 4.80% Aug/04
Indium
CNY/Kg
1,180.00 15.00 1.29% 5.83% 5.83% -0.84% Aug/04
Soda Ash
CNY/T
2,137.50 0.00 0.00% 3.01% 12.38% 59.51% Aug/05
Neodymium
CNY/T
780,000.00 10,000.00 -1.27% 3.65% 28.29% 25.30% Aug/04
Tellurium
CNY/Kg
560.00 0.00 0.00% -0.44% -4.27% 20.43% Aug/04
Iron Ore 62% fe
USD/T
182.51 1.50 0.83% -14.89% -16.12% 17.11% Aug/04

Index Price Day Weekly Monthly YTD Date
CRB Index
Index Points
226.93 1.88 -0.82% -2.54% -0.66% 27.28% Aug/04
LME Index
Index Points
4,234.40 28.20 -0.66% -1.09% 0.95% 24.01% Aug/04
S&P GSCI
Index Points
2,544.96 40.21 -1.56% -2.55% -3.03% 28.73% Aug/04
Nuclear Energy Index
USD
1,319.95 0.92 0.07% -1.34% -1.50% 5.06% Aug/05
Solar Energy Index
USD
433.74 0.97 -0.22% 2.76% 1.24% -7.07% Aug/05
EU Carbon Permits
EUR
55.05 0.41 -0.74% 1.85% 1.91% 68.25% Aug/05
Wind Energy Index
USD
357.88 0.55 -0.15% 2.19% -0.06% -5.85% Aug/05