Oil prices surged on Friday, extending gains for the third session, boosted by the OPEC+ decision to keep output quotas largely steady in April, with Saudi Arabia extending its unilateral 1 million barrel per day output cut indefinitely. Only Russia and Kazakhstan were granted 130,000 barrels per day and 20,000 barrels per day increases in their production quota, respectively, reported S&P Global Platts. Traders were also upbeat after Premier Li Keqiang said at the annual session of the National People's Congres that China had set a modest annual economic growth target this year, at above 6%; and that it will improve the system for responding to public health emergencies. Also, Beijing vowed to develop vaccines to cope with major infectious diseases in its development plan for 2021-2025. At around 06:45 AMGMT, WTI crude jumped 1.2% to $64.58 a barrel, while Brent oil soared 1.3% to $67.6 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 March of 2021.

Crude oil is expected to trade at 61.72 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 53.08 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
64.6300 0.80 1.25% 5.09% 11.49% 33.20% Mar/05
Brent
USD/Bbl
67.7100 0.97 1.45% 5.11% 11.81% 30.71% Mar/05
Natural gas
USD/MMBtu
2.7250 0.02 -0.73% -1.66% -5.45% 7.33% Mar/05
Gasoline
USD/Gal
2.0191 0.02 1.06% 3.52% 20.56% 43.19% Mar/05
Heating oil
USD/Gal
1.9134 0.02 0.92% 3.81% 9.47% 28.94% Mar/05
Ethanol
USD/Gal
1.7600 0.02 -0.85% 4.14% 2.92% 22.82% Mar/04
Naphtha
USD/T
588.16 17.55 3.07% 5.85% 10.46% 35.93% Mar/04
Propane
USD/Gal
0.97 0.00 0.24% 6.15% 12.33% 50.27% Mar/04
Uranium
USD/Lbs
27.6000 0.00 0.00% -3.33% -6.91% -10.10% Mar/04

Metals Price Day Weekly Monthly YTD Date
Gold
USD/t.oz
1,695.91 1.28 -0.08% -2.17% -7.34% -10.58% Mar/05
Silver
USD/t.oz
25.234 0.07 -0.29% -5.21% -7.41% -4.27% Mar/05
Platinum
USD/t.oz
1,117.49 8.51 -0.76% -5.99% -3.40% 4.84% Mar/05

Agricultural Price Day Weekly Monthly YTD Date
Soybeans
USd/Bu
1,420.7500 2.00 0.14% 1.65% 2.40% 7.92% Mar/05
Wheat
USd/Bu
652.5000 2.75 0.42% -0.38% -0.50% 1.87% Mar/05
Palm Oil
MYR/T
3,780.00 49.00 1.31% 1.02% 10.04% 5.00% Mar/05
Cheese
USD/Lbs
1.6030 0.02 -1.29% 1.26% 0.88% -2.61% Mar/04
Milk
USD/CWT
16.25 0.03 0.19% 3.83% 3.90% 2.85% Mar/05
Rubber
JPY/Kg
268.90 1.10 -0.41% -0.92% 8.08% 0.04% Mar/05
Orange Juice
USd/Lbs
109.10 1.00 0.93% 1.11% -1.93% -11.48% Mar/04
Coffee
USd/Lbs
131.15 2.10 -1.58% -4.79% 5.72% 2.26% Mar/03
Lumber
USD/1000 board feet
981.00 1.00 0.10% -2.58% 7.14% 12.36% Mar/04
Oat
USd/Bu
360.0000 0.50 -0.14% -2.37% 3.08% -0.21% Mar/05
Wool
AUD/100Kg
1,310.00 1.00 0.08% 0.31% 1.95% 11.87% Mar/04
Cotton
USd/Lbs
85.59 1.31 -1.51% -3.00% 3.44% 9.56% Mar/04
Cocoa
USD/T
2,637.00 117.00 -4.25% -2.51% 1.93% 1.31% Mar/04
Rice
USD/cwt
13.1250 0.04 -0.30% 2.50% 0.96% 7.23% Mar/04
Canola
CAD/T
814.20 14.70 -1.77% 3.05% 17.61% 29.34% Mar/04
Sugar
USd/Lbs
16.26 0.12 0.74% -8.86% -0.97% 4.97% Mar/04
Tea
USD/Kgs
2.91 0.00 0.00% 0.00% -6.13% 1.39% Mar/04
Corn
USd/BU
550.5000 4.25 0.78% -0.90% -2.35% 13.74% Mar/05

Livestock Price Day Weekly Monthly YTD Date
Beef
BRL/Kg
19.33 0.07 0.36% -0.21% -2.37% 6.56% Mar/04
Feeder Cattle
USd/Lbs
135.1000 1.90 -1.39% -3.79% -2.30% -2.77% Mar/04
Live Cattle
USd/Lbs
118.5500 0.85 -0.71% -2.57% 1.56% 3.06% Mar/04
Lean Hogs
USd/Lbs
87.3000 0.63 -0.71% -2.73% 23.00% 24.23% Mar/04
Poultry
BRL/Kgs
6.40 0.00 0.00% 5.61% 1.75% 6.49% Mar/04

Industrial Price Day Weekly Monthly YTD Date
Copper
USD/Lbs
4.0325 0.09 2.30% -1.59% 9.40% 14.62% Mar/05
Lithium
CNY/T
70,500.00 0.00 0.00% 0.00% 7.63% 51.61% Mar/05
Bitumen
CNY/T
3,084.00 120.00 4.05% -5.86% 9.13% 29.47% Mar/05
Steel
CNY/T
4,813.00 36.00 -0.74% 4.13% 15.23% 14.05% Mar/04
Coal
USD/T
81.70 2.70 -3.20% 2.64% 0.25% 0.59% Mar/04
Palladium
USD/t.oz
2,339.27 0.23 -0.01% 0.95% 0.35% -4.43% Mar/05
Cobalt
USD/T
52,610.00 0.00 0.00% 1.56% 15.12% 63.44% Mar/04
Lead
USD/T
1,997.00 35.25 -1.73% -6.90% -2.04% 1.08% Mar/04
Aluminum
USD/T
2,152.00 18.50 0.87% -2.99% 6.64% 8.65% Mar/05
Tin
USD/T
23,770.00 495.00 2.13% -10.55% 2.74% 17.01% Mar/05
Zinc
USD/T
2,740.25 0.50 0.02% -4.36% 2.14% -0.39% Mar/05
Nickel
USD/T
16,088.50 1,280.50 -7.37% -16.02% -10.55% -2.81% Mar/04
Molybdenum
USD/Kg
29.25 0.00 0.00% 10.38% 10.38% 24.47% Mar/04
Iron Ore
USD/T
178.00 3.00 1.71% 2.89% 14.47% 12.30% Mar/04
Soda Ash
CNY/T
1,616.00 0.00 0.00% 5.21% 18.82% 20.60% Mar/04
Neodymium
CNY/T
885,000.00 0.00 0.00% 13.10% 24.65% 42.17% Mar/04
Iron Ore 62% fe
USD/T
174.9400 0.82 0.47% 6.01% 13.67% 12.26% Mar/04
Rhodium
USD/t oz.
29,200.00 850.00 3.00% 15.42% 33.95% 71.76% Mar/04
Manganese
CNY/T
31.25 0.00 0.00% 0.00% 0.00% 0.00% Mar/04

Index Price Day Weekly Monthly YTD Date
CRB Index
Index Points
202.70 0.83 0.41% -1.97% 5.16% 13.69% Mar/04
LME Index
Index Points
3,772.60 94.10 -2.43% -6.31% 7.66% 10.49% Mar/04
S&P GSCI
Index Points
2,315.25 32.42 1.42% -1.50% 6.75% 17.11% Mar/04