WTI crude futures settled up 3.2% at $107.6 per barrel on Friday as supply concerns outweighed expectations of a slowdown in demand. Production in Libya shut down this week because of unrest, making it even more difficult for OPEC to meet the production targets. Adding to woes, Nigeria’s petroleum minister said OPEC+ is running out of capacity to pump more oil, including its biggest member Saudi Arabia. Still, crude was down 2% on the week on fears that aggressive monetary tightening in major economies aimed at curbing soaring inflation could lead to a global recession and dampen oil demand.

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 of 2022.

Crude oil is expected to trade at 113.58 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 126.55 in 12 months time.

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Crude oil

Price Day Month Year
Crude Oil 107.62 3.350 3.21% -0.12% 45.33%
Brent 113.12 3.07 2.79% 1.80% 48.49%
Natural gas 6.22 -0.0190 -0.30% -30.84% 76.70%
Gasoline 3.88 0.1192 3.17% 4.28% 71.60%
Heating Oil 4.36 0.0250 0.58% 16.37% 102.99%
Coal 397.00 2.00 0.51% -0.75% 210.88%
Ethanol 2.82 0.0100 0.36% 2.36% 19.03%
Naphtha 802.89 1.85 0.23% -9.31% 26.54%
Propane 1.21 -0.001 -0.08% -1.54% 24.85%
Uranium 48.45 0.4500 0.94% 2.54% 49.54%
Methanol 2,560.00 -25.00 -0.97% -5.47% -0.66%

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.
Actual Previous Highest Lowest Dates Unit Frequency
107.62 104.27 147.27 -40.32 1983 - 2022 USD/BBL Daily