Average monthly Brent crude oil price from May 2017 to May 2018 (in U.S. dollars per barrel)*

Monthly crude oil price average for Brent 2017-2018 This statistic illustrates the price of the crude oil grade Brent Crude for the period between May 2017 to May 2018, in average monthly values. Brent Crude is the world's leading price benchmark for Atlantic basin crude oils. It is used to price two thirds of the internationally traded crude oil supplies. In May 2018, the price of one barrel of Brent Crude oil was approximately 76.98 U.S. dollars. Brent Crude is the most significant crude oil benchmark for Europe. Brent crudes originate in the North Sea and include oils from Brent and Forties Oil Field in the United Kingdom, and from the Oseborg and Ekofisk oil fields, both in Norway.
UK Brent crude oil price

Other names for Brent Crude are Brent Blend, London Brent and Brent petroleum. The name Brent comes from the Brent oil field, located north-east of the Shetland Islands, and thus part of the United Kingdom. Because the Brent oil field already passed its production peak, today the benchmark Brent Crude includes oil from the other three major oil fields. Brent, beneath West Texas Intermediate (WTI), is one of the lightest crude oils. With a low content of sulphur, it is ranged among the so called sweet crude oils. Most of the Brent Crude oil is refined into gasoline and middle distillates in Northwest Europe.

Other crucial benchmarks for crude oil prices are West Texas Intermediate (WTI), which is especially important for North America, and Dubai Crude (Fateh), which dominates the Asian oil market. Such benchmarks are indispensable for referencing the many types and grades of oil on the global market.

With a few exceptions, there was a nearly constant increase in the price for one barrel of Brent Crude oil in the last fifteen years. For example, the average price per barrel stood at nearly 25 U.S. dollars in 2002. Until 2012, this price increased to almost 112 U.S. dollars. In 2010, however, the price fell under the mark of 100 U.S. dollars. The price in 2014 saw a rapid decrease, with monthly crude oil prices falling under 65 U.S. dollars per barrel, then fell even further to a recent low of 32.18 U.S. dollars per barrel in February 2016. Since then, prices have increased gradually.
Show more
Loading statistic...
Price in U.S. dollars per barrel
May 1750.33
Jun 1746.37
Jul 1748.48
Aug 1751.7
Sep 1756.15
Oct 1757.51
Nov 1762.71
Dec 1764.37
Jan 1869.08
Feb 1865.32
Mar 1866.02
Apr 1872.11
May 1876.98
Price in U.S. dollars per barrel
May 1750.33
Jun 1746.37
Jul 1748.48
Aug 1751.7
Sep 1756.15
Oct 1757.51
Nov 1762.71
Dec 1764.37
Jan 1869.08
Feb 1865.32
Mar 1866.02
Apr 1872.11
May 1876.98
Download Settings Share
Chart type
Datalabels
Share on Social Media
HTML code to embed chart as PNG (FAQ)
Download started
Please be patient - this may take a moment
Description Source More information
This statistic illustrates the price of the crude oil grade Brent Crude for the period between May 2017 to May 2018, in average monthly values. Brent Crude is the world's leading price benchmark for Atlantic basin crude oils. It is used to price two thirds of the internationally traded crude oil supplies. In May 2018, the price of one barrel of Brent Crude oil was approximately 76.98 U.S. dollars. Brent Crude is the most significant crude oil benchmark for Europe. Brent crudes originate in the North Sea and include oils from Brent and Forties Oil Field in the United Kingdom, and from the Oseborg and Ekofisk oil fields, both in Norway.
UK Brent crude oil price

Other names for Brent Crude are Brent Blend, London Brent and Brent petroleum. The name Brent comes from the Brent oil field, located north-east of the Shetland Islands, and thus part of the United Kingdom. Because the Brent oil field already passed its production peak, today the benchmark Brent Crude includes oil from the other three major oil fields. Brent, beneath West Texas Intermediate (WTI), is one of the lightest crude oils. With a low content of sulphur, it is ranged among the so called sweet crude oils. Most of the Brent Crude oil is refined into gasoline and middle distillates in Northwest Europe.

Other crucial benchmarks for crude oil prices are West Texas Intermediate (WTI), which is especially important for North America, and Dubai Crude (Fateh), which dominates the Asian oil market. Such benchmarks are indispensable for referencing the many types and grades of oil on the global market.

With a few exceptions, there was a nearly constant increase in the price for one barrel of Brent Crude oil in the last fifteen years. For example, the average price per barrel stood at nearly 25 U.S. dollars in 2002. Until 2012, this price increased to almost 112 U.S. dollars. In 2010, however, the price fell under the mark of 100 U.S. dollars. The price in 2014 saw a rapid decrease, with monthly crude oil prices falling under 65 U.S. dollars per barrel, then fell even further to a recent low of 32.18 U.S. dollars per barrel in February 2016. Since then, prices have increased gradually.
Show more
Release date
June 2018
Region
Worldwide
Survey time period
May 2017 to May 2018
Supplementary notes
* All figures have been rounded; monthly average values.

More information

Statista Accounts: Access All Statistics. Starting from $588 / Year

Basic Account

Get to know the platform

You only have access to basic statistics.

Register for free

Premium Account

Your perfect start with Statista

  • Instant access to 1m statistics
  • Download in XLS, PDF & PNG format
  • Detailed references

$49 / Month *

Corporate Account

Full access

Corporate solution including all features.

Send request

* All products require an annual contract.
   Prices do not include sales tax
   (New York residents only).
Leading companies trust Statista:

Related Studies: Available to Download in PDF or PPTX Format

Oil and gasoline prices

All Information
in one Presentation

Oil and gasoline prices

Everything On "Oil and gasoline prices" in One Document: Edited and Divided into Handy Chapters. Including Detailed References.

Other Reports & Dossiers
Statista is a great source of knowledge, and pretty helpful to manage the daily work.
Christof Baron

Christof Baron
CEO, MindShare Germany

Statistics on "Oil and gasoline prices"

  • Global price determinants
The most important statistics
  • UK Brent
  • West Texas Intermediate (WTI)
  • OPEC basket
  • Country comparison
  • United States - prices
  • United States - taxes
The most important statistics
Need help with using Statista for your research? Tutorials and first steps

Further Content: Statistics, Studies, and Topic Pages

Statistics on the topic

Topics

About Statista

Learn more about how Statista can support your business.

Request webinar
Do you have any questions about our business solutions?

We provide you with detailed information about our Corporate Account.

1 News

We use cookies to personalize contents and ads, offer social media features, and analyze access to our website. In your browser settings you can configure or disable this, respectively, and can delete any already placed cookies. For details, please see your browser’s Help section (by pressing F1). Please see our privacy statement for details about how we use data.