Oil prices edged higher on Friday, on optimism that the recent US-China trade pact will revive growth and boost demand in the world’s two biggest crude consumers. Also, the latest EIA report showed the US crude inventories decreased by 2.549 million barrels in the latest week. Keeping a lid on prices, data showed China's economic growth slowed to its weakest in nearly 30 years in 2019. WTI crude added nearly 0.5% to $58.57 a barrel while Brent rose as much as 0.6% to $65.13 a barrel around 10:30 AM London 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 58.8501 0.32 0.55% -0.40% -3.45% 9.39% Jan/17
Brent 65.0986 0.49 0.76% 0.12% -1.61% 3.83% Jan/17
Natural gas 1.9800 0.05 -2.58% -8.83% -13.39% -43.14% Jan/17
Gasoline 1.6618 0.01 -0.72% -0.42% -1.60% 14.38% Jan/17
Heating oil 1.8683 0.00 -0.07% -3.54% -7.62% -2.49% Jan/17
Ethanol 1.3665 0.05 4.17% 1.12% 10.15% 6.84% Jan/17
Naphtha 545.86 3.49 0.64% 2.35% 1.15% 17.87% Jan/17
Uranium 24.6000 0.05 0.20% 0.41% -3.34% -14.88% Jan/17
Propane 0.44 0.00 -0.48% -2.60% -15.83% -34.14% Jan/16

Metals Price Day Weekly Monthly Yearly Date
Gold 1,558.75 5.35 0.34% -0.10% 5.62% 21.67% Jan/17
Silver 17.9714 0.03 0.18% -0.45% 5.44% 17.31% Jan/17
Platinum 1,020.18 2.18 0.21% 4.31% 9.06% 28.97% Jan/18

Agricultural Price Day Weekly Monthly Yearly Date
Soybeans 927.1188 3.64 0.39% -1.68% 0.30% 1.13% Jan/17
Wheat 570.1655 7.75 1.38% 1.32% 4.53% 10.12% Jan/17
Cotton 71.25 1.03 1.47% -0.08% 6.76% -3.57% Jan/17
Rice 13.4200 0.09 0.64% 2.64% 4.97% 26.31% Jan/17
Palm Oil 2,590.00 0.00 0.00% -8.19% -2.26% 19.74% Jan/18
Cheese 1.8040 0.00 0.11% 0.22% -12.21% 30.06% Jan/17
Milk 17.01 0.02 0.12% -0.12% -12.27% 21.59% Jan/17
Rubber 174.90 0.10 -0.06% -0.63% -0.17% -10.31% Jan/17
Coffee 112.15 0.80 -0.71% -5.72% -14.84% 6.86% Jan/17
Lumber 430.00 1.20 0.28% 9.69% 5.70% 21.16% Jan/17
Wool 1,609.00 0.00 0.00% 3.27% 3.27% -16.33% Jan/17
Canola 481.00 5.00 1.05% 1.16% 3.31% -0.33% Jan/17
Sugar 14.45 0.02 0.14% 2.70% 7.59% 10.90% Jan/17
Tea 2.51 0.00 0.00% -10.36% 0.40% -19.29% Jan/17
Oat 308.6708 3.08 1.01% 0.35% 3.01% 3.32% Jan/17
Orange Juice 95.50 0.45 0.47% -3.63% -2.25% -19.88% Jan/17
Cocoa 2,797.00 85.00 3.13% 8.03% 11.61% 21.24% Jan/17
Corn 389.2903 13.77 3.66% 0.89% 0.51% 1.98% Jan/17

Livestock Price Day Weekly Monthly Yearly Date
Live Cattle 126.1198 0.47 0.37% -0.97% 3.03% -0.32% Jan/17
Lean Hogs 67.6315 0.68 1.02% 0.76% -3.45% 10.46% Jan/17
Beef 13.64 0.07 0.52% 1.64% -3.19% 31.91% Jan/17
Poultry 5.15 0.03 0.59% -4.45% -4.10% 19.77% Jan/17
Feeder Cattle 144.3199 0.31 -0.21% -2.04% -0.20% 2.03% Jan/17

Industrial Price Day Weekly Monthly Yearly Date
Copper 2.8509 0.01 -0.19% 1.25% 1.43% 4.01% Jan/17
Steel 3,691.00 20.00 0.54% -1.99% 0.11% -0.38% Jan/17
Bitumen 3,110.00 84.00 -2.63% -1.40% 2.71% 7.24% Jan/17
Palladium 2,480.40 0.02 0.00% 17.14% 28.99% 82.18% Jan/18
Coal 70.68 0.80 -1.12% -0.73% 3.36% -30.02% Jan/17
Cobalt 32,250.00 500.00 -1.53% -1.53% -1.53% -15.13% Jan/17
Lead 1,974.25 25.25 -1.26% 3.16% 3.85% -1.63% Jan/17
Aluminum 1,805.00 7.00 -0.39% 0.08% 2.32% -3.48% Jan/17
Tin 17,810.00 140.00 0.79% 3.25% 2.80% -13.65% Jan/17
Zinc 2,429.50 7.50 0.31% 2.21% 6.49% -5.83% Jan/17
Nickel 13,836.00 136.00 0.99% -1.98% 0.23% 17.89% Jan/17
Molybdenum 22.05 0.00 0.00% 0.00% 0.00% -19.08% Jan/17
Iron Ore 96.00 0.50 0.52% 2.67% 4.35% 28.34% Jan/17
Soda Ash 1,550.00 0.00 0.00% 0.00% -0.64% -25.48% Jan/17
Neodymium 367,500.00 0.00 0.00% 0.14% 0.82% -7.66% Jan/17
Iron Ore 62% fe 94.8100 0.26 0.28% 1.33% 2.95% 26.16% Jan/17
Lithium 119.78 1.04 0.88% 8.39% 11.42% 7.42% Jan/17
Manganese 31.50 0.00 0.00% 0.00% 0.00% -20.25% Jan/17
Rhodium 8,600.00 500.00 6.17% 6.17% 39.84% 248.18% Jan/17

Index Price Day Weekly Monthly Yearly Date
Baltic Dry 754.00 14.00 -1.82% -2.58% -38.25% -30.95% Jan/17
CRB Index 193.71 0.69 0.35% -0.65% -1.00% 2.46% Jan/17
LME Index 2,893.60 0.00 0.00% 1.01% 2.09% 1.53% Jan/17
S&P GSCI 2,536.32 6.46 0.26% -0.76% -1.39% 4.35% Jan/17