Oil prices on 12/06/2023

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 09 and 12 June, we note:

• WTI crude oil price decrease from 70,17$ to 67,12$
• Brent oil price drop from 74,79$ to 71,84$
• OPEC basket price decline from 75,85$ to 72,96$

The following is an overview of key oil price data as of 12 June 2023, based on the following benchmarks:

Oil price per barrel in dollars

Extreme values over the past 12 months

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