Brent crude futures rose almost 1% to $55.6 a barrel on Monday, extending a nearly 8% gain in January and recovering from three sessions of losses, boosted by output cuts by major producers. Saudi Arabia's voluntary 1 million barrel per day production cuts came into effect on February 1st and Russia reportedly plans to cut its crude exports by almost 20% to a three-month low this month while Iraq also pledged to cut production to compensate for its overproduction last year. Still, gains were limited by a surge in coronavirus infections and a slower-than-expected vaccine rollout in the US and Europe.

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 February of 2021.

Brent crude oil is expected to trade at 52.77 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 45.66 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
52.5700 0.37 0.71% -0.38% 10.39% 8.35% Feb/01
Brent
USD/Bbl
55.5900 0.55 1.00% -0.52% 8.81% 7.32% Feb/01
Natural gas
USD/MMBtu
2.7640 0.20 7.80% 6.23% 7.09% 8.86% Feb/01
Gasoline
USD/Gal
1.5742 0.02 1.38% 0.84% 14.66% 11.64% Feb/01
Heating oil
USD/Gal
1.6217 0.02 1.46% 1.74% 10.92% 9.28% Feb/01
Ethanol
USD/Gal
1.6400 0.11 7.19% 2.50% 14.45% 14.45% Jan/29
Naphtha
USD/T
499.99 0.00 0.00% 0.35% 15.50% 15.55% Jan/29
Propane
USD/Gal
0.85 0.03 -2.93% -2.09% 31.45% 31.59% Jan/29
Uranium
USD/Lbs
30.0500 0.00 0.00% -0.99% -2.12% -2.12% Jan/29

Metals Price Day Weekly Monthly YTD Date
Gold
USD/t.oz
1,866.55 20.46 1.11% 0.62% -3.90% -1.58% Feb/01
Silver
USD/t.oz
29.512 2.51 9.30% 16.65% 8.46% 11.96% Feb/01
Platinum
USD/t.oz
1,124.62 51.94 4.84% 2.40% 5.11% 5.50% Feb/01

Agricultural Price Day Weekly Monthly YTD Date
Soybeans
USd/Bu
1,366.7500 0.25 -0.02% 1.50% 3.70% 3.82% Feb/01
Wheat
USd/Bu
659.5000 3.50 -0.53% 1.70% 2.73% 2.97% Feb/01
Palm Oil
MYR/T
3,490.00 102.00 3.01% 6.34% -2.73% -3.06% Jan/29
Cheese
USD/Lbs
1.6570 0.00 -0.12% -0.60% -0.54% 0.67% Jan/29
Milk
USD/CWT
16.13 0.01 0.06% -0.19% 0.44% 2.09% Feb/01
Rubber
JPY/Kg
241.60 1.80 -0.74% -27.88% -12.46% -10.12% Feb/01
Orange Juice
USd/Lbs
110.80 0.20 0.18% -3.19% -9.11% -10.10% Feb/01
Coffee
USd/Lbs
125.40 2.45 1.99% 1.74% -0.59% -2.22% Feb/01
Lumber
USD/1000 board feet
887.00 5.60 -0.63% 11.43% 1.50% 1.59% Jan/29
Oat
USd/Bu
351.0000 1.50 0.43% -0.99% -1.40% -2.70% Feb/01
Wool
AUD/100Kg
1,291.00 0.00 0.00% 7.40% 10.25% 10.25% Jan/29
Cotton
USd/Lbs
81.07 0.43 0.53% -1.53% 2.66% 3.78% Feb/01
Cocoa
USD/T
2,505.00 26.00 -1.03% -0.12% -1.84% -3.76% Feb/01
Rice
USD/cwt
13.4800 0.02 0.15% 1.85% 6.56% 10.13% Feb/01
Canola
CAD/T
696.10 4.50 0.65% 3.02% 10.81% 10.58% Feb/01
Sugar
USd/Lbs
15.99 0.16 1.01% 1.59% 1.46% 3.23% Feb/01
Tea
USD/Kgs
3.13 0.00 0.00% 0.00% 9.06% 9.06% Jan/29
Corn
USd/BU
551.2500 4.25 0.78% 7.77% 13.95% 13.89% Feb/01

Livestock Price Day Weekly Monthly YTD Date
Beef
BRL/Kg
19.16 0.02 -0.10% -0.26% 5.62% 5.62% Jan/29
Feeder Cattle
USd/Lbs
137.7250 2.08 -1.48% 0.35% -0.58% -0.88% Jan/29
Live Cattle
USd/Lbs
115.0500 0.95 -0.82% -1.44% 0.52% 0.02% Jan/29
Lean Hogs
USd/Lbs
69.8000 0.15 -0.21% -0.18% 3.25% -0.68% Jan/29
Poultry
BRL/Kgs
5.91 0.17 2.96% -3.90% -1.66% -1.66% Jan/29

Industrial Price Day Weekly Monthly YTD Date
Copper
USD/Lbs
3.5630 0.01 0.15% -2.12% 0.01% 1.28% Feb/01
Lithium
CNY/T
62,500.00 0.00 0.00% 9.65% 34.41% 34.41% Feb/01
Bitumen
CNY/T
2,730.00 82.00 3.10% 6.56% 10.98% 14.61% Feb/01
Steel
CNY/T
4,191.00 19.00 -0.45% -0.21% 0.53% -0.69% Jan/29
Coal
USD/T
85.50 2.65 -3.01% -0.66% 4.27% 5.27% Feb/01
Palladium
USD/t.oz
2,279.59 53.55 2.41% -2.35% -3.94% -6.87% Feb/01
Cobalt
USD/T
41,250.00 0.00 0.00% 4.10% 28.15% 28.15% Jan/29
Lead
USD/T
2,008.50 5.25 -0.26% -0.91% 1.43% 1.66% Jan/29
Aluminum
USD/T
1,983.25 10.37 0.53% -1.30% -2.41% 0.13% Feb/01
Tin
USD/T
22,947.50 340.00 1.50% 2.23% 9.34% 12.96% Feb/01
Zinc
USD/T
2,558.00 15.25 -0.59% -5.36% -8.54% -7.02% Feb/01
Nickel
USD/T
17,647.50 106.50 -0.60% -3.16% 5.55% 6.61% Jan/29
Molybdenum
USD/Kg
25.00 0.00 0.00% 0.00% 6.38% 6.38% Jan/29
Iron Ore
USD/T
158.00 0.50 0.32% -6.51% -0.32% -0.32% Jan/29
Soda Ash
CNY/T
1,350.00 0.00 0.00% 0.00% 0.75% 0.75% Feb/01
Neodymium
CNY/T
710,000.00 0.00 0.00% 1.43% 14.52% 14.06% Jan/29
Iron Ore 62% fe
USD/T
168.1300 0.50 -0.30% -1.00% 7.98% 7.89% Jan/29
Rhodium
USD/t oz.
19,300.00 300.00 1.58% -6.99% 15.92% 13.53% Jan/29
Manganese
CNY/T
31.75 0.00 0.00% 1.60% 1.60% 1.60% Jan/29

Index Price Day Weekly Monthly YTD Date
CRB Index
Index Points
185.11 0.10 -0.05% 0.78% 4.52% 3.82% Jan/29
LME Index
Index Points
3,455.80 11.70 -0.34% -1.72% 0.21% 1.21% Jan/29
S&P GSCI
Index Points
2,074.70 2.17 0.10% 0.84% 5.36% 4.94% Jan/29