Oil and Gas Analytics

Crude Spot Prices (Historical)

World oil prices are most often referenced to the Brent Oil price in the UK or the WTI Oil price in the USA. These oil prices are determined on the futures market (electronic financial exchange) around the world.
The ‘spot price’ of an asset is the price of buying or selling the asset today. Some of the factors that influence oil prices include demand/supply dynamics, storage levels and costs, interest rates, insurance costs, marginal cost of supply, foreign exchange rates, potential geopolitical risks disrupting supply, the ability to deal with the supply shock (OPEC spare capacity and inventory levels) and the markets views and future expectations of all of this and more.