Brent Crude Price

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Brent Crude

May 18, 2020
33.30
   2.35 Dollar per Barrel
 
 
 
Europe Brent Spot Price FOB;   Source: EIA
Crude Oil Prices

Brent Crude

33.30
 
2.35
May 18, 2020

WTI Crude

31.83
 
2.39
May 18, 2020
 
 

OPEC Basket

28.43
 
0.22
May 19, 2020

Indian Basket

33.36
 
21.27
Mar 2020
Source: EIA, OPEC, PPAC

Chart of Brent Crude Prices - Daily/ Weekly/ Monthly/ Yearly

Source: The U. S. Energy Information Administration

Brent Crude Prices

Brent Crude price on May 18, 2020 stood at 33.30 Dollar per Barrel. This represents an increase in the price of Brent Crude by 2.35 Dollar per Barrel from it's last day price of US$30.95/barrel on May 15, 2020.

In the 52 week period, the price of Brent Crude touched a high of 73.21 Dollar per Barrel on May 20, 2019 and recorded a low of 13.77 Dollar per Barrel on Apr 22, 2020.

Meanwhile, WTI Crude was trading at 31.83 Dollar per Barrel on May 18, 2020 and OPEC Basket Price was 28.43 Dollar per Barrel on May 19, 2020. The average price of Indian Basket crude oil as reported by PPAC was 33.36 Dollar per Barrel on March 2020.

Brent Crude Price Comparision

Price Week
ago
Month
ago
1 Year
ago
5 Years
ago
10 Years
ago
33.30
18 May 2020
25.53
11 May 2020
19.75
17 Apr 2020
73.94
17 May 2019
65.15
18 May 2015
75.12
18 May 2010
Dollar per Barrel

Brent Crude Daily Price Trend

Brent Crude
DATE PRICE CHANGE % CHANGE
May 18, 2020 33.30 +2.35   7.59%
May 15, 2020 30.95 +1.08   3.62%
May 14, 2020 29.87 +1.98   7.10%
May 13, 2020 27.89 +1.22   4.57%
May 12, 2020 26.67 +1.14   4.47%
May 11, 2020 25.53 +1.30   5.37%
May 07, 2020 24.23 +0.03   0.12%
  Dollar per Barrel Source: EIA

Brent Crude Monthly Average Price Trend

Brent Crude Monthly Average Price Trend Chart

Brent Crude Yearly Average Price Trend

Brent Crude Yearly Average Price Trend

Brent Crude

Brent Crude oil is a major trading classification of sweet light crude oil and is the primary benchmark for international oil price. Brent is produced in the North Sea and is used as a reference price for roughly two-thirds of the global physical trade in oil. Dated Brent, also referred to as the 'spot price' for Brent is the most commonly used reference price for the physical sale of oil by tankers.

As per the price reporting agency of Brent benchmark, Platts - 'Dated Brent' is a benchmark assessment of the price of physical, light North Sea crude oil. The term "Dated Brent" refers to physical cargoes of crude oil in the North Sea that have been assigned specific delivery dates.

As per Report by S&P Platts, there is no bigger commodity benchmark assessed by a price reporting agency than S&P Global Platts Dated Brent. Renowned for over 30 years as the world’s premier crude oil benchmark, it has set the standard for transparency, liquidity, and an unerring ability to adapt to the changing physical and financial parameters in which it exists. Over the years, Platts has guided the Dated Brent benchmark through the choppy waters of the North Sea and beyond, ensuring its fitness as a price reference for an estimated 60% of the world’s near 100 million barrels a day of crude oil trade.

There has been a continuous decline in the supply of crude oil from North Sea fields. This has led to fewer transactions of dated brent which in turn led to concern about the reliability of the benchmark as it was vulnerable to manipulation.

Platts in 2002 included transactions involving two additional grades of crude oil, Forties from the United Kingdom and Oseberg from Norway, in its price assessment for North Sea oil. In 2007, Platts added the Norwegian crude oil grade Ekofisk.

And from Jan 1, 2018 Norway’s Troll was added to the basket of four British and Norwegian crude grades which is used to assess dated Brent. This joined Brent, Forties, Oseberg and Ekofisk, or BFOE as they are known.

Crude API° Sulphur (%wt)
Brent 37.5 0.40
Forties Blend 38.9 0.78
Oseberg Blend 39.6 0.20
Ekofisk 39.9 0.17
Ekofisk 39.9 0.17
Norway’s Troll 35.9 0.19

Source: BP, ExxonMobil, S&P Global Platts


Volatility in Brent Crude Prices

  Last 30 Days Last 6 Mths Last 1 Year
Min 13.77 13.77 13.77
Max 33.30 70.25 73.21
Average 21.88 47.27 55.30
Volatility 27.14% 42.08% 28.70%
(Dollar per Barrel)

  • A century ago, petroleum - what we call oil - was just an obscure commodity; today it is almost as vital to human existence as water.

  • ~ James Buchan


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Historical Price of
 in

Select Date

Brent Crude
(Dollar per Barrel)

33.30

DATE PRICE   CHANGE
May 18, 2020     33.30        2.35
May 15, 2020     30.95        1.08
May 14, 2020     29.87        1.98
May 13, 2020     27.89        1.22
May 12, 2020     26.67        1.14
May 11, 2020     25.53        1.30
May 07, 2020     24.23        0.03
May 06, 2020     24.20        1.26
May 05, 2020     25.46        5.06
May 04, 2020     20.40        1.91
May 01, 2020     18.49        0.38
Apr 30, 2020     18.11        0.25
Apr 29, 2020     17.86        2.26
Apr 28, 2020     15.60        0.43
Apr 27, 2020     15.17        0.70
Apr 24, 2020     15.87        0.81
Apr 23, 2020     15.06        1.29
Apr 22, 2020     13.77        3.59
Apr 20, 2020     17.36        2.39
Apr 17, 2020     19.75        1.06
Apr 16, 2020     18.69        1.11
Apr 15, 2020     19.80        1.94
Apr 14, 2020     21.74        1.51
Apr 13, 2020     20.23        0.00
Apr 09, 2020     20.23        4.99
Apr 08, 2020     25.22        3.12
Apr 07, 2020     22.10        0.48
Apr 06, 2020     22.58        1.75
Apr 03, 2020     24.33        4.09
Apr 02, 2020     20.24        5.27