Oil prices slumped by more than 2% on Tuesday, as concerns the coronavirus outbreak could hinder the Chinese economy and led to slowing demand in the world’s biggest crude importer persist. The International Energy Agency said last week that global oil demand in the first quarter of 2020 is likely to contract year-on-year for the first time since the financial crisis in 2009. Keeping a floor on prices were expectations that major oil producers would extend the current oil production cut agreement or even make deeper curbs to support the market. US crude oil dropped as much as 2.1% to $51.44 a barrel while Brent fell nearly 1.6% to $56.69 a barrel around 10:00 AM London time.

Historically, Crude oil reached an all time high of 147.27 in July of 2008.

Crude oil is expected to trade at 52.82 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 56.81 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 51.2686 1.14 -2.18% 2.66% -12.81% -8.60% Feb/18
Brent 56.7497 1.00 -1.73% 5.07% -12.96% -14.60% Feb/18
Natural gas 1.9618 0.03 1.42% 9.56% 2.00% -26.30% Feb/18
Gasoline 1.5848 0.01 -0.70% 4.17% -4.14% 1.35% Feb/18
Heating oil 1.6697 0.02 -1.12% 2.19% -11.20% -16.29% Feb/18
Ethanol 1.3351 0.01 -1.02% 0.80% -2.84% 1.61% Feb/18
Naphtha 475.91 1.43 -0.30% 2.41% -11.58% -4.74% Feb/14
Propane 0.39 0.00 0.23% 1.36% -11.80% -42.15% Feb/14
Uranium 24.5000 0.00 0.00% -1.01% -0.41% -14.63% Feb/14

Metals Price Day Weekly Monthly Yearly Date
Gold 1,589.12 6.80 0.43% 1.38% 1.80% 18.50% Feb/18
Silver 17.8768 0.05 0.27% 1.35% -1.08% 11.87% Feb/18
Platinum 979.84 11.14 1.15% 1.14% -3.51% 19.86% Feb/18

Agricultural Price Day Weekly Monthly Yearly Date
Soybeans 899.2710 2.78 0.31% 1.90% -3.11% -0.16% Feb/18
Wheat 556.1114 9.12 1.67% 2.81% -2.87% 13.55% Feb/18
Palm Oil 2,569.00 0.00 0.00% 2.64% -2.02% 19.21% Feb/18
Cheese 1.7840 0.00 -0.11% -0.61% -0.89% 27.25% Feb/14
Milk 16.99 0.02 -0.12% -0.41% 0.00% 21.53% Feb/14
Orange Juice 99.15 0.00 0.00% 4.53% 2.64% -16.54% Feb/14
Lumber 449.30 5.80 -1.27% 2.07% 15.62% 13.06% Feb/14
Wool 1,568.00 0.00 0.00% -0.57% -2.55% -20.33% Feb/17
Tea 2.42 0.00 0.00% -5.47% -3.59% -15.38% Feb/17
Rice 13.3000 0.03 -0.23% -2.24% -0.86% 34.82% Feb/18
Canola 461.60 2.10 0.46% 0.48% -4.03% -2.55% Feb/18
Rubber 164.70 3.00 1.86% 15.17% -2.60% -14.17% Feb/18
Coffee 110.45 1.35 1.24% 9.90% -0.54% 13.63% Feb/18
Sugar 15.22 0.16 1.06% -1.23% 4.60% 14.01% Feb/18
Cotton 68.67 1.26 1.87% 0.64% -0.82% -2.47% Feb/18
Cocoa 2,904.00 84.00 -2.81% -0.48% 3.05% 24.10% Feb/18
Oat 295.2868 1.28 -0.43% -0.93% -6.18% 9.37% Feb/18
Corn 381.7567 3.24 0.86% 0.47% -1.88% 3.25% Feb/18

Livestock Price Day Weekly Monthly Yearly Date
Feeder Cattle 138.5476 2.02 1.48% 2.01% -4.73% -3.62% Feb/14
Live Cattle 121.1017 1.71 1.44% -0.26% -4.85% -5.30% Feb/14
Lean Hogs 55.9987 0.02 0.03% -2.29% -17.33% -0.93% Feb/14
Beef 13.81 0.16 -1.15% -2.40% 5.82% 30.53% Feb/17
Poultry 4.89 0.03 0.62% 3.16% -4.68% 12.41% Feb/17

Industrial Price Day Weekly Monthly Yearly Date
Copper 2.5973 0.03 -1.15% 0.65% -8.74% -9.86% Feb/18
Lithium 49,000.00 0.00 0.00% 0.00% 0.00% -37.58% Feb/18
Bitumen 3,068.00 12.00 0.39% 3.44% -3.88% -1.41% Feb/18
Steel 3,369.00 25.00 -0.74% -0.33% -8.80% -10.16% Feb/18
Coal 69.90 0.95 -1.34% -0.29% -1.48% -25.56% Feb/18
Palladium 2,532.08 10.08 0.40% 8.16% 1.32% 71.14% Feb/18
Cobalt 33,750.00 0.00 0.00% -1.46% 4.65% 8.87% Feb/17
Lead 1,903.00 6.75 0.36% 5.94% -2.56% -5.03% Feb/17
Aluminum 1,721.00 1.00 -0.06% 1.12% -5.02% -7.27% Feb/17
Tin 16,600.00 75.00 0.45% 1.68% -7.00% -21.55% Feb/17
Zinc 2,172.00 23.00 1.07% 1.78% -11.13% -18.25% Feb/17
Nickel 13,023.50 91.50 0.71% 1.75% -6.58% 3.54% Feb/17
Molybdenum 24.20 0.00 0.00% 0.00% 9.75% -11.19% Feb/17
Iron Ore 90.00 1.50 1.69% 8.43% -6.74% 1.35% Feb/17
Neodymium 368,500.00 0.00 0.00% 0.27% 0.27% -7.41% Feb/17
Rhodium 11,500.00 425.00 3.84% 6.73% 26.37% 331.52% Feb/17
Soda Ash 1,550.00 0.00 0.00% 0.00% 0.00% -24.02% Feb/18
Iron Ore 62% fe 84.8600 0.28 -0.33% 3.93% -10.29% -4.15% Feb/14
Manganese 32.50 0.00 0.00% 0.00% 3.17% -17.72% Feb/17

Index Price Day Weekly Monthly Yearly Date
Baltic Dry 434.00 9.00 2.12% 5.60% -40.47% -31.65% Feb/17
CRB Index 183.41 0.00 0.00% 2.43% -5.32% -3.20% Feb/17
LME Index 2,691.40 16.90 0.63% 2.28% -7.01% -9.05% Feb/17
S&P GSCI 2,339.17 0.00 0.00% 3.25% -7.77% -5.65% Feb/17