Annual
This dataset tracks annual over time.
Latest Value
80.52
Year-over-Year Change
-27.87%
Date Range
1/1/1987 - 1/1/2024
Summary
The Annual Brent Crude Oil Price measures the average annual price of Brent crude oil, a major global benchmark for oil prices. This trend is widely followed by economists, policymakers, and market analysts to assess energy market conditions and inflationary pressures.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
Brent crude oil is a high-quality blend of light sweet crude oil produced in the North Sea. The annual average price is a key indicator of global energy costs and a driver of broader inflation. Economists and policymakers use this data to understand energy market dynamics and their impacts on the broader economy.
Methodology
The U.S. Energy Information Administration calculates the annual average price based on daily spot prices for Brent crude oil.
Historical Context
Brent crude oil prices are closely watched by global markets and policymakers for their influence on consumer prices, producer costs, and economic growth.
Key Facts
- Brent crude is a major global oil benchmark.
- The annual average price reached a high of $111.63 in 2012.
- Brent crude prices can impact consumer and producer prices across the economy.
FAQs
Q: What does this economic trend measure?
A: The Annual Brent Crude Oil Price measures the average annual price of Brent crude oil, a high-quality global oil benchmark.
Q: Why is this trend relevant for users or analysts?
A: Brent crude oil prices are a key driver of energy costs and broader inflationary pressures, making this trend highly relevant for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The U.S. Energy Information Administration calculates the annual average price based on daily spot prices for Brent crude oil.
Q: How is this trend used in economic policy?
A: Policymakers closely monitor Brent crude oil prices to assess energy market conditions and their potential impacts on consumer prices, producer costs, and economic growth.
Q: Are there update delays or limitations?
A: The annual Brent crude oil price data is published with a short lag, typically a few months after the end of the calendar year.
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Citation
U.S. Federal Reserve, Annual Brent Crude Oil Price (ACOILBRENTEU), retrieved from FRED.