Average annual crude oil futures prices: contract 2 2016

This statistic shows the average annual futures contract 2 price for Cushing Oklahoma crude oil between 1990 and 2016. In 1990, the futures contract 2 price for this crude came to 24.33 U.S. dollars per barrel.

Average annual crude oil futures contract two prices in the U.S. from 1990 to 2016 (U.S. dollars per barrel)*

Characteristic	Price in U.S. dollars per barrel
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Release date

November 2017

More information

Region

United States

Survey time period

1990 to 2016

Method of interview

Online survey

Supplementary notes

* All prices refer to light sweet oil from Cushing, Oklahoma.
Contracts 2-4 represent the successive delivery months following Contract 1.
Contract 1 is a futures contract specifying the earliest delivery date. For crude oil, each contract expires on the third business day prior to the 25th calendar day of the month preceding the delivery month. If the 25th calendar day of the month is a non-business day, trading ceases on the third business day prior to the business day preceding the 25th calendar day. After a contract expires, Contract 1 for the remainder of that calendar month is the second following month.

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