Average annual crude oil futures prices: contract 3 2021

Annual futures contract three price for Cushing Oklahoma crude oil stood at 67.3 U.S. dollars per barrel in 2021, an increase compared to the previous years. During the period in consideration, figures peaked at over 100 U.S. dollars per barrel in 2008.

Average annual crude oil futures contract three prices in the U.S. from 1990 to 2021* (U.S. dollars per barrel)

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

November 2022

More information

Region

United States

Survey time period

1990 to 2021

Method of interview

Online survey

Supplementary notes

* All prices refer to light sweet oil from Cushing, Oklahoma, traded at the New York Mercantile Exchange, U.S.
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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