Oil prices fell more than 1% on Monday, amid mounting fears over weakening global demand as the number of COVID-19 cases US surged in North America and across Europe. The US saw its highest number of virus cases in two days through Saturday, while new infections in France hit a record of over 50 thousand Sunday and Spain announced a state of emergency. Meantime, the World Bank said last week that a delay in reaching a virus vaccine will contribute to witnessing lower energy prices than forecast. On the supply side, Libya's National Oil ended Friday its force majeure on exports from two key ports and said output would hit 1 million barrels per day in four weeks. Meantime, OPEC+ is also set to raise production by 2 million bpd in January after slashing output by a record amount earlier this year. At around 03:30 AM GMT, WTI crude plunged 1.7% to $39.16 a barrel. Brent crude also slumped 1.7% to $41.08 a barrel. Last week, WTI dropped by 2.5%, while Brent fell 2.7%.

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 October of 2020.

Crude oil is expected to trade at 36.98 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 31.81 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 YTD Date
Crude Oil
USD/Bbl
38.4600 1.39 -3.49% -5.80% -5.27% -37.15% Oct/26
Brent
USD/Bbl
40.4100 1.36 -3.26% -5.19% -4.76% -39.14% Oct/26
Natural gas
USD/MMBtu
2.9780 0.01 0.24% 6.55% 6.36% 38.62% Oct/26
Gasoline
USD/Gal
1.1100 0.03 -2.54% -4.19% -11.27% -35.34% Oct/26
Heating oil
USD/Gal
1.1130 0.04 -3.33% -3.35% -2.43% -45.07% Oct/26
Ethanol
USD/Gal
1.5200 0.00 0.00% 3.47% 14.29% 8.80% Oct/26
Naphtha
USD/T
379.18 1.82 -0.48% -1.01% 3.29% -29.27% Oct/23
Propane
USD/Gal
0.52 0.00 0.04% 0.13% 6.27% 18.03% Oct/23
Uranium
USD/Lbs
29.2500 0.00 0.00% 0.00% -2.50% 17.71% Oct/23

Metals Price Day Weekly Monthly YTD Date
Gold
USD/t.oz
1,899.15 1.64 -0.09% -0.27% 0.97% 24.27% Oct/26
Silver
USD/t.oz
24.252 0.33 -1.33% -1.01% 2.29% 34.59% Oct/26
Platinum
USD/t.oz
886.00 15.50 -1.72% 3.45% 0.80% -8.00% Oct/26

Agricultural Price Day Weekly Monthly YTD Date
Soybeans
USd/Bu
1,081.0000 5.50 -0.51% 2.56% 8.59% 12.95% Oct/26
Wheat
USd/Bu
626.5000 6.25 -0.99% 0.00% 13.96% 11.60% Oct/26
Palm Oil
MYR/T
2,556.00 23.00 -0.89% -0.20% -0.12% -7.59% Oct/23
Cheese
USD/Lbs
2.3010 0.01 0.31% 1.23% 30.44% 27.55% Oct/26
Milk
USD/CWT
21.63 0.00 0.00% 1.17% 32.62% 26.79% Oct/23
Wool
AUD/100Kg
1,219.00 0.00 0.00% 9.13% 17.66% -21.76% Oct/23
Rubber
JPY/Kg
286.00 11.20 4.08% 18.62% 28.37% 62.32% Oct/27
Rice
USD/cwt
12.3500 0.01 0.04% -0.80% -0.88% -4.52% Oct/26
Canola
CAD/T
549.70 0.30 -0.05% 3.11% 6.88% 16.59% Oct/26
Cotton
USd/Lbs
71.64 0.35 0.49% 0.67% 11.24% 3.42% Oct/26
Oat
USd/Bu
302.5000 1.00 -0.33% 2.28% 11.21% 1.51% Oct/26
Tea
USD/Kgs
2.68 0.00 0.00% 0.00% 5.10% 7.20% Oct/23
Sugar
USd/Lbs
14.72 0.06 -0.41% 2.01% 14.64% 12.11% Oct/23
Cocoa
USD/T
2,479.00 5.00 0.20% 5.00% -4.62% -2.09% Oct/23
Coffee
USd/Lbs
105.60 1.10 -1.03% -1.54% -4.99% -16.92% Oct/23
Orange Juice
USd/Lbs
115.00 3.75 3.37% -0.09% 7.58% 21.24% Oct/23
Lumber
USD/1000 board feet
515.30 16.10 -3.03% -3.50% -10.94% 26.70% Oct/23
Corn
USd/BU
415.7500 3.50 -0.83% 2.84% 13.59% 7.36% Oct/26

Livestock Price Day Weekly Monthly YTD Date
Beef
BRL/Kg
17.74 0.12 0.68% 2.48% 7.13% 23.37% Oct/23
Poultry
BRL/Kgs
6.16 0.05 0.82% 0.16% 3.01% 15.14% Oct/23
Feeder Cattle
USd/Lbs
133.5250 0.30 -0.22% -3.31% -6.20% -7.69% Oct/23
Live Cattle
USd/Lbs
103.3500 0.03 0.02% -3.55% -4.33% -17.70% Oct/23
Lean Hogs
USd/Lbs
67.0250 0.83 1.25% -3.98% -3.49% -6.32% Oct/23

Industrial Price Day Weekly Monthly YTD Date
Copper
USD/Lbs
3.1060 0.03 -1.00% 0.84% 4.21% 10.26% Oct/26
Lithium
CNY/T
39,000.00 0.00 0.00% 0.00% 0.00% -21.21% Oct/26
Bitumen
CNY/T
2,460.00 18.00 -0.73% 0.00% 18.27% -19.97% Oct/26
Steel
CNY/T
3,628.00 45.00 -1.23% -0.47% 0.00% -3.05% Oct/23
Cobalt
USD/T
33,305.00 0.00 0.00% 0.00% -2.62% 1.69% Oct/23
Lead
USD/T
1,770.75 26.25 -1.46% 2.19% -3.38% -7.46% Oct/23
Nickel
USD/T
15,678.75 105.25 -0.67% 0.45% 10.27% 12.39% Oct/23
Molybdenum
USD/Kg
20.70 0.00 0.00% 0.00% -1.33% -6.12% Oct/23
Iron Ore
USD/T
117.00 2.50 -2.09% -1.27% 0.00% 27.17% Oct/23
Coal
USD/T
58.52 0.42 0.72% 1.54% -4.30% -16.02% Oct/23
Aluminum
USD/T
1,847.25 4.50 0.24% 0.33% 5.39% 2.37% Oct/26
Tin
USD/T
18,305.00 107.50 -0.58% -1.57% 5.49% 6.49% Oct/26
Zinc
USD/T
2,551.75 2.75 0.11% 2.69% 4.96% 10.47% Oct/26
Palladium
USD/t.oz
2,368.71 24.29 -1.01% 1.08% 5.04% 22.13% Oct/26
Rhodium
USD/t oz.
14,700.00 0.00 0.00% 6.14% 5.00% 142.98% Oct/23
Manganese
CNY/T
29.50 0.00 0.00% -2.48% -3.28% -6.35% Oct/23
Soda Ash
CNY/T
1,883.33 0.00 0.00% 0.00% 15.31% 20.21% Oct/23
Neodymium
CNY/T
440,000.00 0.00 0.00% 1.62% -0.90% 21.55% Oct/23
Iron Ore 62% fe
USD/T
121.0200 0.32 -0.26% -0.35% -2.38% 30.72% Oct/23

Index Price Day Weekly Monthly YTD Date
Baltic Dry
Index Points
1,415.00 14.00 1.00% -4.20% -11.84% 44.98% Oct/23
CRB Index
Index Points
160.08 1.15 -0.71% -0.52% 1.58% -18.59% Oct/23
LME Index
Index Points
3,085.80 22.30 -0.72% 1.32% 5.82% 8.53% Oct/23
S&P GSCI
Index Points
1,752.94 13.26 -0.75% -1.06% 2.01% -32.37% Oct/23