Brent crude futures extended early losses falling over 2% to around $41.9 a barrel on Wednesday, after latest data from the EIA showed US crude oil inventories fell by 1.001 million barrels in the week ended October 16th, slightly less than market expectations of a 1.021 million barrels. Meantime, figures from the API released on Tuesday showed crude oil stockpiles in the US unexpectedly rose by 0.6 million barrels last week, compared with forecasts of a 0.2 million drop. Concerns about fuel demand recovery persist as the number of coronavirus infections continue to spike worldwide. At the same time, Baker Hughes said that the demand recovery is beginning to level off and significant excess capacity remains, which could create volatility in the future.

Historically, Brent crude oil reached an all time high of 147.50 in July of 2008. Brent crude oil - data, forecasts, historical chart - was last updated on October of 2020.

Brent crude oil is expected to trade at 40.74 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 35.25 in 12 months time.

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Brent crude oil


Brent crude oil
Brent Crude oil is a major benchmark price for purchases of oil worldwide. While Brent Crude oil is sourced from the North Sea the oil production coming from Europe, Africa and the Middle East flowing West tends to be priced relative to this oil. The Brent 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
40.3200 1.12 -2.70% -1.75% 1.82% -34.11% Oct/21
Brent
USD/Bbl
41.9200 1.24 -2.87% -3.23% 0.48% -36.86% Oct/21
Natural gas
USD/MMBtu
3.0160 0.10 3.57% 14.42% 63.91% 40.39% Oct/21
Gasoline
USD/Gal
1.1453 0.04 -3.13% -4.65% -2.41% -33.29% Oct/21
Heating oil
USD/Gal
1.1359 0.03 -2.91% -5.09% 3.50% -43.94% Oct/21
Ethanol
USD/Gal
1.4750 0.01 0.41% 3.15% 11.32% 5.58% Oct/21
Naphtha
USD/T
384.29 3.99 1.05% 0.06% 4.70% -28.32% Oct/20
Propane
USD/Gal
0.52 0.00 0.33% 1.10% 6.70% 18.00% Oct/20
Uranium
USD/Lbs
29.3000 0.00 0.00% -0.51% -2.50% 17.91% Oct/20

Metals Price Day Weekly Monthly YTD Date
Gold
USD/t.oz
1,925.30 18.91 0.99% 1.28% 1.37% 25.98% Oct/21
Silver
USD/t.oz
25.070 0.43 1.72% 3.25% 2.68% 39.13% Oct/21
Platinum
USD/t.oz
885.31 14.30 1.64% 3.30% 2.15% -8.07% Oct/21

Agricultural Price Day Weekly Monthly YTD Date
Soybeans
USd/Bu
1,073.7500 8.50 0.80% 1.63% 5.27% 12.19% Oct/21
Wheat
USd/Bu
635.2500 9.00 1.44% 6.99% 14.67% 13.16% Oct/21
Cheese
USD/Lbs
2.2820 0.01 0.40% 1.24% 29.95% 26.50% Oct/20
Palm Oil
MYR/T
2,542.00 0.00 0.00% -3.71% -4.65% -8.10% Oct/21
Milk
USD/CWT
21.46 0.00 0.00% 0.75% 31.90% 25.79% Oct/21
Oat
USd/Bu
296.0000 0.75 0.25% 3.41% 5.06% -0.67% Oct/19
Wool
AUD/100Kg
1,240.00 123.00 11.01% 16.32% 32.34% -20.41% Oct/20
Tea
USD/Kgs
2.68 0.00 0.00% 0.00% -16.51% 7.20% Oct/20
Rice
USD/cwt
12.2050 0.04 -0.29% -1.81% -2.52% -5.64% Oct/21
Rubber
JPY/Kg
248.40 7.30 3.03% 10.30% 14.00% 40.98% Oct/21
Orange Juice
USd/Lbs
112.45 5.55 -4.70% -2.89% -0.40% 18.56% Oct/21
Lumber
USD/1000 board feet
523.50 8.20 -1.54% -4.63% -9.52% 28.72% Oct/21
Cocoa
USD/T
2,424.00 42.00 1.76% 1.38% -5.16% -4.27% Oct/21
Cotton
USd/Lbs
71.21 0.19 0.27% 3.31% 11.54% 2.80% Oct/21
Coffee
USd/Lbs
104.00 0.90 -0.86% -5.11% -6.01% -18.17% Oct/21
Canola
CAD/T
546.60 8.60 1.60% 3.88% 4.87% 15.93% Oct/21
Sugar
USd/Lbs
14.43 0.11 -0.76% 1.62% 11.95% 9.90% Oct/21
Corn
USd/BU
413.7500 9.50 2.35% 4.48% 12.20% 6.84% Oct/21

Livestock Price Day Weekly Monthly YTD Date
Beef
BRL/Kg
17.37 0.02 0.12% 1.16% 4.76% 20.79% Oct/20
Poultry
BRL/Kgs
6.11 0.01 -0.16% 0.83% 4.27% 14.21% Oct/20
Feeder Cattle
USd/Lbs
134.8250 0.60 0.45% -2.42% -4.78% -6.79% Oct/21
Live Cattle
USd/Lbs
104.0750 0.05 -0.05% -3.95% -2.35% -17.12% Oct/21
Lean Hogs
USd/Lbs
70.4250 1.18 1.70% -10.17% 3.04% -1.57% Oct/21

Industrial Price Day Weekly Monthly YTD Date
Copper
USD/Lbs
3.1805 0.10 3.26% 4.64% 4.78% 12.90% Oct/21
Lithium
CNY/T
39,000.00 0.00 0.00% 0.00% -71.32% -21.21% Oct/21
Bitumen
CNY/T
2,476.00 36.00 1.48% 16.24% 7.65% -19.45% Oct/21
Steel
CNY/T
3,631.00 14.00 -0.38% 0.58% 0.64% -2.97% Oct/19
Coal
USD/T
58.22 0.03 -0.05% 7.81% -2.59% -16.45% Oct/20
Cobalt
USD/T
33,305.00 0.00 0.00% -1.41% -2.62% 1.69% Oct/20
Lead
USD/T
1,748.00 10.25 0.59% -2.27% -6.20% -8.65% Oct/20
Nickel
USD/T
15,976.25 341.25 2.18% 6.57% 10.25% 14.53% Oct/20
Molybdenum
USD/Kg
20.70 0.00 0.00% 0.00% -1.33% -6.12% Oct/20
Iron Ore
USD/T
119.00 0.50 0.42% -2.86% -1.24% 29.35% Oct/20
Palladium
USD/t.oz
2,391.58 7.44 -0.31% 2.01% 7.69% 23.31% Oct/21
Aluminum
USD/T
1,850.75 11.25 0.61% 0.73% 4.05% 2.56% Oct/21
Tin
USD/T
18,735.00 57.50 0.31% 2.38% 2.74% 8.99% Oct/21
Zinc
USD/T
2,561.50 19.75 0.78% 5.83% 3.79% 10.89% Oct/21
Soda Ash
CNY/T
1,883.33 0.00 0.00% 0.00% 15.31% 20.21% Oct/21
Neodymium
CNY/T
438,000.00 5,000.00 1.15% 1.15% -3.10% 20.99% Oct/20
Iron Ore 62% fe
USD/T
121.5100 0.02 -0.02% -0.75% -3.57% 31.25% Oct/20
Rhodium
USD/t oz.
14,000.00 200.00 1.45% 0.72% -1.41% 131.41% Oct/20
Manganese
CNY/T
30.00 0.00 0.00% -0.83% -4.00% -4.76% Oct/20

Index Price Day Weekly Monthly YTD Date
Baltic Dry
Index Points
1,346.00 4.00 -0.30% -22.29% 2.44% 37.91% Oct/21
CRB Index
Index Points
161.83 0.76 0.47% 1.29% 3.05% -17.70% Oct/20
LME Index
Index Points
3,091.40 33.40 1.09% 2.40% 3.21% 8.73% Oct/20
S&P GSCI
Index Points
1,782.33 12.95 0.73% 1.78% 4.05% -31.23% Oct/20