Crude oil fell toward $75 per barrel on Wednesday, sliding for the fifth straight session and reaching its lowest level since early March, as expectations of increased supply continued to weigh on prices ahead of the signing of a peace agreement between the US and Iran. The two countries are scheduled to sign an interim deal in Switzerland on Friday, offering Tehran broad economic incentives, including the immediate resumption of its oil exports. Tankers from other nations are also expected to resume passage through the Strait of Hormuz once the agreement takes effect, although shipping companies remain cautious about its long-term durability. Additional supplies from the region are expected to replenish refinery inventories globally, alongside higher OPEC+ export quotas and increased output from the UAE, which left the cartel during the conflict. Meanwhile, industry data showed that US crude inventories declined by 8.3 million barrels last week.

Crude Oil fell to 75.31 USD/Bbl on June 17, 2026, down 0.97% from the previous day. Over the past month, Crude Oil's price has fallen 27.85%, but it is still 2.46% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. 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 June 17 of 2026.

Crude Oil fell to 75.31 USD/Bbl on June 17, 2026, down 0.97% from the previous day. Over the past month, Crude Oil's price has fallen 27.85%, but it is still 2.46% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil is expected to trade at 85.57 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 100.45 in 12 months time.



Price Day Month Year Date
Crude Oil 75.27 -0.778 -1.02% -27.89% 2.41% Jun/17
Brent 78.35 -0.615 -0.78% -30.11% 2.15% Jun/17
Natural gas 3.23 -0.0105 -0.32% 6.76% -19.06% Jun/17
Gasoline 2.87 -0.0070 -0.24% -23.59% 24.71% Jun/17
Heating Oil 3.17 0.0013 0.04% -22.92% 24.73% Jun/17
Coal 145.00 -1.35 -0.92% 9.43% 36.28% Jun/16
Ethanol 1.83 -0.0300 -1.61% -8.39% 10.24% Jun/16
Urals Oil 64.16 -3.64 -5.37% -37.39% -4.21% Jun/16



Related Last Previous Unit Reference
United States API Crude Oil Stock Change -8.33 -9.12 BBL/1Million Jun 2026
Saudi Arabia Crude Oil Production 7010.00 6879.00 BBL/D/1K May 2026
United States Crude Oil Production 13696.00 13697.00 BBL/D/1K Mar 2026
Russia Crude Oil Production 9976.55 10026.55 BBL/D/1K Feb 2026
United States Crude Oil Stocks Change -7.23 -7.97 BBL/1Million Jun 2026
United States Weekly Crude Oil Production 13799.00 13707.00 Thousand Barrels Per Day Jun 2026

Crude Oil
Crude oil is one of the most widely followed commodities in the world due to its central role in the global economy. It is a key source of energy, a critical input for transportation and manufacturing, and a major driver of inflation and geopolitical dynamics. As a result, movements in oil prices are closely monitored by governments, businesses, and investors alike. West Texas Intermediate (WTI) crude oil is classified as light and sweet, where “light” refers to its low density and “sweet” indicates its low sulfur content. The delivery point for WTI crude oil futures is the Cushing Hub in Oklahoma, and each futures contract represents 1,000 barrels of crude oil. Crude oil prices displayed on Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments and are intended to provide a general market reference only. These prices do not represent official WTI crude oil prices. Official pricing and settlement data for WTI crude oil futures should be obtained directly from NYMEX. The data is supplied by a third party and, while efforts are made to ensure its reliability, Trading Economics does not verify the data and makes no representations or warranties.
Actual Previous Highest Lowest Dates Unit Frequency
75.31 76.05 147.27 -40.32 1983 - 2026 USD/BBL Daily

News Stream
Oil Extends Decline for Fifth Straight Session
Crude oil fell toward $75 per barrel on Wednesday, sliding for the fifth straight session and reaching its lowest level since early March, as expectations of increased supply continued to weigh on prices ahead of the signing of a peace agreement between the US and Iran. The two countries are scheduled to sign an interim deal in Switzerland on Friday, offering Tehran broad economic incentives, including the immediate resumption of its oil exports. Tankers from other nations are also expected to resume passage through the Strait of Hormuz once the agreement takes effect, although shipping companies remain cautious about its long-term durability. Additional supplies from the region are expected to replenish refinery inventories globally, alongside higher OPEC+ export quotas and increased output from the UAE, which left the cartel during the conflict. Meanwhile, industry data showed that US crude inventories declined by 8.3 million barrels last week.
2026-06-17
Oil Holds Decline on Supply Optimism
Crude oil traded at three-month lows below $76 per barrel on Wednesday after falling for four straight sessions, pressured by expectations of increased supply following the anticipated peace agreement between the US and Iran. The two nations are set to sign an interim deal in Switzerland on Friday, granting Tehran broad economic incentives, including the immediate resumption of its oil exports. Tankers from other countries are also expected to resume transit through the Strait of Hormuz once the agreement takes effect, although shipping firms remain cautious about its long-term stability. Additional supplies from the region are expected to boost refinery inventories worldwide, alongside higher OPEC+ export quotas and increased production from the UAE, which exited the cartel during the conflict. Meanwhile, industry data indicated that US crude inventories fell by 8.3 million barrels last week.
2026-06-16
Crude Oil Extends Plunge on Deal Hopes
Crude oil prices fell over 6% to $75.5 per barrel on Tuesday, the lowest since the first week of March, erasing the bulk of the surge from the conflict in the Middle East amid expectations that exports from GCC countries will be restored imminently. The US and Iran continued to signal they will sign a memorandum of understanding this Friday. The deal reportedly has both countries allowing tankers to cross the Strait of Hormuz upon the agreement, with the US unopposed of Tehran deploying tankers immediately. The fresh supply from the region is due to replenish refineries across the globe with the higher export quotas from OPEC+ and higher output from the UAE, which left the cartel during the conflict. The US Strategic Petroleum Reserves had fallen to a 43-year low. In turn, Iranian output will likely refill Chinese oil stockpiles, which were depleted in the last months as the world's largest importer refrained from purchasing oil to prop up prices further.
2026-06-16