Oil Price Charts
On this page, you will find the world oil price charts presented in a simple table and an interactive graphic. It is very easy to find out the price of crude oil for both Brent and WTI, just click on the Brent Crude Oil or WTI Crude Oil section.
Brent And WTI Oil Price Charts
This chart is will be updated every day and follows the latest petroleum price data. You can choose the timeframe for the price you need, from 1H to the whole time chart.
Why does Oil Price Have 2 Price References?
Currently, there are two reference prices for world oil that are the most widely used in the world. Namely the world oil price of Brent and WTI (West Texas Intermediate). Brent (Brent Crude) is the name for oil produced from the North Sea (Europe), with the name Brent derived from mining fields in the North Sea, which opened in 1970.The price of Brent oil has been the basis for price formation since 1971 for nearly 40% of its value. oil worldwide, and continues to be used today.
However, in its development, the oil production of the United States has increased and contributed greatly to the world market share, so that the price of WTI oil has been used as a reference since around 2007. WTI (West Texas Intermediate) is petroleum produced in North America, and in most applications used for gasoline products. The characteristics of WTI oil are lighter and easier to process, so it is in great demand, especially in the US and China.
Apart from Brent and WTI, there are other types of oil that are widely traded in the world, such as Dubai Crude (petroleum from Dubai), Oman Crude (petroleum originating from Oman), Urals Oil (Russia's export reference price), and OPEC Reference. Basket (average price of oil exported by OPEC countries). However, the general benchmark in determining the price of petroleum is based on Brent and WTI.