Brent Crude Oil Historical Prices
Global oil benchmark - 12-month price history with chart, statistics, and trend analysis
12-Month Price Chart
Price Analysis
Year-over-Year Performance
Brent crude oil has lost $4.43 (-5.91%) over the past 12 months. The current price of $70.52 per barrel compares to $74.95 a year ago.
Price Range & Volatility
Over the past year, Brent prices ranged from a low of $61.73 to a high of $74.95, representing a $21.4% price swing. The 12-month average of $67.32 serves as a baseline for global oil pricing contracts.
Global Benchmark Significance
Brent crude is sourced from four North Sea oil fields (Brent, Forties, Oseberg, and Ekofisk), making it a blend that represents multiple production sources. Approximately two-thirds of all crude oil contracts worldwide are priced relative to Brent, making it the most widely used global benchmark. OPEC, refiners, and governments use Brent pricing for budgeting, taxation, and strategic planning.
Key Price Drivers
Brent prices reflect global supply-demand dynamics including: OPEC+ production decisions, global economic growth, geopolitical tensions (especially in Middle East and Europe), USD strength, inventory levels, and energy transition trends. Historical data shows Brent typically trades at a premium to WTI due to its global accessibility and lower sulfur content.
Frequently Asked Questions
What was the highest Brent crude oil price in the past year?
The highest Brent crude oil price in the past 12 months was $74.95 per barrel. Brent is the global oil pricing benchmark, used to price approximately two-thirds of the world's internationally traded crude oil supplies.
What was the lowest Brent price in the past year?
The lowest Brent crude oil price in the past 12 months was $61.73 per barrel. Brent prices reflect global supply-demand dynamics and geopolitical tensions affecting oil markets.
What is the average Brent price over the past year?
The 12-month average Brent crude oil price is $67.32 per barrel. This average is widely used by traders, refiners, and governments for budgeting and forecasting.
How much has Brent price changed year-over-year?
Brent crude oil price has decreased by $4.43(-5.91%) year-over-year. Current price is $70.52 compared to $74.95 a year ago.
Why is Brent crude important for global oil prices?
Brent crude is the primary global oil price benchmark because it represents oil from multiple North Sea oil fields, making it more representative of global supply. Approximately two-thirds of all crude oil contracts worldwide are priced relative to Brent.
Access Brent Historical Data via API
Get programmatic access to Brent historical prices with our REST API. Essential for global oil market analysis, portfolio management, and energy procurement strategies.