Crude oil prices on August 11, 2023 – Price per barrel

Oil prices are key indicators for the global economy and financial markets. The price of oil affects many sectors, from the automotive industry to energy, agriculture and transportation.

Comparing crude oil prices between 10 and 11 August, we note:

• WTI crude oil price increase from 82,82$ to 83,19$
• Brent oil price increase from 86,4$ to 86,81$
• OPEC basket price decline from 89,75$ to 88,97$

The following is an overview of key oil price data as of 11 August 2023, based on the following benchmarks:

Oil price per barrel in dollars

Factors influencing the price of oil

Oil prices are influenced by a multitude of factors, such as global supply and demand, geopolitical tensions, the production policies of exporting countries, global economic conditions and currency fluctuations. These factors can lead to daily changes in oil prices on international markets.

Terminology