WTI crude prices rose more than 3% to settle above $34 a barrel on Wednesday, on optimism about supply cuts and rising global demand. Russia reported that its oil output dropped to its target of 8.5 million barrels per day for May and June, in compliance with its OPEC+ deal. Also, the International Energy Agency executive director said oil consumption hasn’t yet peaked, and demand will likely grow to past pre-pandemic levels. Brent added 1.8% to settle at $36.17 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 May of 2020.

Crude oil is expected to trade at 32.70 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 28.13 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 Yearly Date
Crude Oil 34.1700 0.92 2.77% 5.14% 167.37% -42.28% May/26
Brent 36.0900 0.96 2.73% 4.16% 80.54% -48.52% May/26
Natural gas 1.7920 0.07 4.19% -1.48% -4.17% -30.42% May/26
Gasoline 1.0466 0.00 -0.38% 1.20% 53.10% -46.66% May/26
Heating oil 0.9886 0.01 -1.19% 1.99% 40.85% -50.63% May/26
Ethanol 1.1650 0.11 10.85% 7.18% 25.00% -16.30% May/26
Naphtha 229.17 2.70 -1.16% 7.83% 61.48% -58.21% May/22
Propane 0.41 0.01 -1.40% 3.73% 24.79% -29.26% May/22
Uranium 34.1000 0.10 0.29% 1.49% 2.71% 41.49% May/22

Metals Price Day Weekly Monthly Yearly Date
Gold 1,712.70 16.49 -0.95% -1.78% -0.09% 33.30% May/26
Silver 17.1020 0.10 -0.57% -1.34% 11.96% 17.22% May/26
Platinum 829.03 9.22 -1.10% -0.41% 9.41% 2.86% May/26

Agricultural Price Day Weekly Monthly Yearly Date
Soybeans 846.7500 13.75 1.65% 0.42% 1.29% 2.15% May/26
Wheat 507.2500 0.50 0.10% 1.76% -3.06% 4.15% May/26
Palm Oil 2,310.00 0.00 0.00% -1.32% 2.71% -6.02% May/25
Cheese 1.3060 0.00 0.15% -1.06% -7.57% -22.86% May/26
Milk 12.22 0.04 0.33% -0.41% -7.35% -25.40% May/26
Rice 16.3900 0.34 2.12% 1.99% -3.45% 42.02% May/26
Rubber 138.10 2.50 1.84% -1.36% -1.43% -34.86% May/26
Sugar 11.08 0.15 1.37% 2.12% 20.30% -5.70% May/26
Cocoa 2,413.00 19.00 0.79% -0.90% 2.77% -1.51% May/26
Coffee 105.05 1.45 1.40% -1.87% 0.43% 9.37% May/26
Orange Juice 128.95 2.15 1.70% 0.94% 14.52% 23.52% May/26
Canola 464.70 4.50 0.98% -1.61% 1.24% 4.24% May/26
Cotton 58.30 0.69 1.20% -1.52% 8.10% -16.08% May/26
Oat 331.2500 10.50 3.26% 4.83% 17.88% 7.88% May/26
Lumber 360.50 7.00 -1.90% 1.75% 14.23% 17.24% May/26
Wool 1,155.00 0.00 0.00% -2.04% -9.20% -36.99% May/22
Tea 2.20 0.00 0.00% 2.33% -14.73% -19.71% May/22
Corn 319.5000 2.00 0.63% -0.54% 2.00% -21.02% May/26

Livestock Price Day Weekly Monthly Yearly Date
Beef 13.80 0.03 0.22% 1.17% -0.29% 28.73% May/22
Poultry 3.91 0.00 0.00% -2.98% 0.77% -20.20% May/22
Feeder Cattle 133.3000 4.33 3.35% 4.61% 12.70% -6.28% May/26
Live Cattle 99.1000 1.60 1.64% 0.28% 18.08% -11.16% May/26
Lean Hogs 60.4500 1.63 2.76% 6.43% 7.95% -28.01% May/26

Industrial Price Day Weekly Monthly Yearly Date
Copper 2.4325 0.01 0.48% 0.68% 3.44% -10.63% May/26
Lithium 42,500.00 0.00 0.00% 0.00% -3.95% -44.81% May/26
Bitumen 2,290.00 60.00 2.69% 8.84% 16.84% -32.49% May/26
Steel 3,560.00 37.00 -1.03% -0.48% 1.34% -9.76% May/26
Coal 57.05 0.30 0.53% 2.11% 10.52% -30.51% May/26
Palladium 1,969.43 22.07 -1.11% -4.36% 2.29% 47.36% May/26
Cobalt 30,000.00 0.00 0.00% 0.00% 0.00% -10.45% May/22
Lead 1,630.25 10.30 -0.63% 3.19% 0.26% -10.19% May/22
Aluminum 1,506.50 14.50 -0.95% 3.04% -0.23% -16.63% May/22
Tin 15,355.00 145.00 -0.94% 2.61% 2.37% -20.03% May/22
Zinc 1,985.50 2.00 0.10% 1.22% 6.03% -22.50% May/22
Nickel 12,185.50 526.50 -4.14% 3.40% 0.66% -1.31% May/22
Molybdenum 20.50 0.50 -2.38% -2.38% -6.48% -28.07% May/22
Iron Ore 97.50 0.00 0.00% 7.73% 14.71% -10.55% May/22
Neodymium 354,500.00 0.00 0.00% 0.00% 0.28% -21.22% May/22
Iron Ore 62% fe 91.4200 0.22 0.24% 2.15% 8.78% -7.07% May/22
Rhodium 8,700.00 0.00 0.00% 17.57% 6.10% 206.34% May/22
Manganese 46.50 0.00 0.00% 0.00% 1.09% 25.68% May/22
Soda Ash 1,283.33 0.00 0.00% 0.00% -11.29% -34.52% May/26

Index Price Day Weekly Monthly Yearly Date
Baltic Dry 498.00 4.00 0.81% 22.36% -25.89% -53.97% May/22
LME Index 2,472.90 0.00 0.00% 4.07% 3.72% -12.02% May/22
S&P GSCI 1,523.96 18.40 -1.19% 4.48% 14.42% -39.13% May/22
CRB Index 139.77 2.24 1.63% 1.59% 21.90% -25.21% May/26