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 07 and 08 June, we note:
- WTI crude oil price decrease from 72,53$ to 71,29$
- Brent oil price drop from 76,65$ to 75,96$
- OPEC basket price increase from 76,03$ to 76,55$
The following is an overview of key oil price data as of 08 June 2023, based on the following benchmarks:
Oil price per barrel in dollars
|
Index |
08 June |
07 June |
% change |
|
WTI Crude |
71,29 |
72,53 |
-1,71% |
|
Brent Crude |
75,96 |
76,65 |
-0,90% |
|
Opec Basket |
76,55 |
76,03 |
0,68% |
Extreme values over the past 12 months
|
Index |
Higher Price ($) |
Lower price ($) |
|
WTI Crude |
123,70 |
64,18 |
|
Brent Crude |
125,28 |
70,12 |
|
Opec Basket |
123,73 |
70,77 |
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.
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