WTI crude futures gained for the 2nd day to $53.3 a barrel on Wednesday as investors hope US large stimulus package from president-elect Joe Biden would boost fuel demand. Also, Treasury Secretary nominee Janet Yellen said at her confirmation hearing Tuesday that more fiscal aid is needed to help the US economy. Limiting the rise were concerns about rising COVID-19, particularly in Asia. Beijing stepped up measures after reporting the biggest daily jump in new cases in over three weeks. Also, the IEA cut its oil demand forecast for 2021 to 96.6 million barrels, down 0.3 million barrels from the prior estimate. Traders now await US crude stockpiles data from API later in the day.

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 January of 2021.

Crude oil is expected to trade at 50.78 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 43.68 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
 53.3400 0.36 0.68% 0.81% 11.73% 9.93% Jan/20
Brent
USD/Bbl
 56.3300 0.44 0.79% 0.48% 10.65% 8.75% Jan/20
Natural gas
USD/MMBtu
2.4740 0.07 -2.83% -9.28% -8.54% -2.56% Jan/20
Gasoline
USD/Gal
 1.5494 0.01 0.73% 0.04% 13.89% 9.88% Jan/20
Heating oil
USD/Gal
 1.6027 0.00 0.25% 0.24% 8.48% 8.00% Jan/20
Ethanol
USD/Gal
 1.6300 0.00 0.00% 7.24% 23.02% 13.75% Jan/19
Naphtha
USD/T
 501.62 1.23 0.25% -0.69% 16.53% 15.93% Jan/19
Propane
USD/Gal
 0.88 0.03 -3.01% 1.74% 37.64% 36.07% Jan/19
Uranium
USD/Lbs
 30.4500 0.00 0.00% -0.49% 0.66% -0.81% Jan/19

Metals Price Day Weekly Monthly YTD Date
Gold
USD/t.oz
 1,867.04 27.70 1.51% 1.28% -0.49% -1.55% Jan/20
Silver
USD/t.oz
 25.700 0.51 2.02% 2.23% -1.77% -2.50% Jan/20
Platinum
USD/t.oz
 1,106.69 23.61 2.18% 1.17% 9.65% 3.82% Jan/20

Agricultural Price Day Weekly Monthly YTD Date
Soybeans
USd/Bu
 1,367.5000 20.25 -1.46% -3.48% 10.57% 3.87% Jan/20
Wheat
USd/Bu
 668.5000 3.75 -0.56% 1.21% 9.37% 4.37% Jan/20
Palm Oil
MYR/T
 3,270.00 3.00 0.09% -11.43% -3.99% -9.17% Jan/20
Cheese
USD/Lbs
 1.6700 0.00 -0.06% -1.18% 1.64% 1.46% Jan/20
Milk
USD/CWT
 16.20 0.02 -0.12% -1.16% 3.25% 2.53% Jan/20
Rubber
JPY/Kg
 337.90 14.20 4.39% 15.32% 15.72% 25.71% Jan/20
Orange Juice
USd/Lbs
 117.75 0.95 -0.80% -5.50% -0.13% -4.46% Jan/20
Coffee
USd/Lbs
 124.05 3.10 -2.44% -0.96% -0.20% -3.27% Jan/20
Lumber
USD/1000 board feet
 699.40 31.40 4.70% -13.65% -20.73% -19.89% Jan/20
Oat
USd/Bu
 359.7500 2.75 -0.76% -0.55% 6.51% -0.28% Jan/20
Wool
AUD/100Kg
 1,172.00 0.00 0.00% 1.12% 0.09% 0.09% Jan/19
Cotton
USd/Lbs
 81.25 0.10 0.12% 0.41% 8.68% 4.01% Jan/20
Cocoa
USD/T
2,567.00 23.00 -0.89% 2.72% 0.47% -1.38% Jan/20
Rice
USD/cwt
 13.1700 0.03 -0.19% 2.25% 6.55% 7.60% Jan/20
Canola
CAD/T
 649.40 14.80 -2.23% -5.17% 2.38% 3.16% Jan/20
Sugar
USd/Lbs
 16.31 0.21 1.30% 2.97% 12.25% 5.29% Jan/20
Tea
USD/Kgs
 2.91 0.00 0.00% 1.39% -1.36% 1.39% Jan/19
Corn
USd/BU
 521.5000 4.50 -0.86% -0.57% 18.52% 7.75% Jan/20

Livestock Price Day Weekly Monthly YTD Date
Beef
BRL/Kg
 19.27 0.15 0.78% 1.90% 13.09% 6.23% Jan/19
Feeder Cattle
USd/Lbs
 135.2500 0.85 0.63% 1.25% -3.82% -2.66% Jan/20
Live Cattle
USd/Lbs
 113.6250 0.30 0.26% 1.22% 2.74% -1.22% Jan/20
Lean Hogs
USd/Lbs
 67.6500 1.18 1.77% 1.20% 2.62% -3.74% Jan/20
Poultry
BRL/Kgs
 6.14 0.06 -0.97% 3.89% 5.50% 2.16% Jan/19

Industrial Price Day Weekly Monthly YTD Date
Copper
USD/Lbs
 3.6475 0.02 0.57% 1.07% 1.99% 3.68% Jan/20
Lithium
CNY/T
 54,000.00 0.00 0.00% 16.13% 17.39% 16.13% Jan/20
Bitumen
CNY/T
 2,620.00 4.00 0.15% 1.95% 6.07% 9.99% Jan/20
Steel
CNY/T
 4,170.00 85.00 -2.00% -0.52% -8.23% -1.02% Jan/19
Coal
USD/T
 84.50 4.50 -5.06% -4.86% 0.27% 4.04% Jan/19
Palladium
USD/t.oz
 2,387.34 35.18 1.50% 0.11% 3.43% -2.46% Jan/20
Cobalt
USD/T
 37,520.00 10.00 0.03% 1.38% 16.52% 16.56% Jan/19
Lead
USD/T
 1,995.00 18.50 0.94% -0.31% 2.85% 0.97% Jan/19
Aluminum
USD/T
 1,976.75 4.25 0.22% -1.68% -1.85% -0.20% Jan/20
Tin
USD/T
 21,465.00 315.00 1.49% 2.53% 7.58% 5.66% Jan/20
Zinc
USD/T
 2,711.00 20.50 0.76% -2.13% -4.74% -1.45% Jan/20
Nickel
USD/T
 18,166.00 151.50 0.84% 3.13% 5.58% 9.74% Jan/19
Molybdenum
USD/Kg
 25.00 0.00 0.00% 6.38% 6.38% 6.38% Jan/19
Iron Ore
USD/T
 169.50 2.50 -1.45% 0.59% -1.17% 6.94% Jan/19
Soda Ash
CNY/T
 1,350.00 0.00 0.00% 0.75% -3.57% 0.75% Jan/20
Neodymium
CNY/T
 685,000.00 5,000.00 0.74% 4.58% 15.13% 10.04% Jan/19
Iron Ore 62% fe
USD/T
 169.8500 0.18 -0.11% 0.20% 9.50% 8.99% Jan/20
Rhodium
USD/t oz.
 21,600.00 100.00 0.47% 13.39% 29.73% 27.06% Jan/19
Manganese
CNY/T
 31.25 0.00 0.00% 0.00% 7.76% 0.00% Jan/19

Index Price Day Weekly Monthly YTD Date
CRB Index
Index Points
 186.17 0.38 0.20% 0.01% 6.30% 4.42% Jan/20
LME Index
Index Points
 3,480.40 3.60 -0.10% -0.64% 0.53% 1.93% Jan/19
S&P GSCI
Index Points
 2,081.07 2.84 0.14% -0.47% 7.17% 5.27% Jan/19