Weekly
This dataset tracks weekly over time.
Latest Value
67.77
Year-over-Year Change
0.88%
Date Range
5/15/1987 - 8/29/2025
Summary
The 'Weekly Brent Crude Oil Price' series measures the weekly spot price of Brent crude oil, a major global benchmark for crude oil pricing. This indicator is closely watched by economists and policymakers as oil prices influence energy costs, consumer prices, and economic activity.
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 extracted from the North Sea and is one of the most widely traded commodity futures contracts. The Brent price is used as a reference for two-thirds of the world's crude oil, making it a key indicator of the global oil market. Analysts monitor this series to assess supply, demand, and geopolitical factors driving oil price fluctuations.
Methodology
The Brent spot price is collected and reported weekly by the U.S. Energy Information Administration.
Historical Context
Oil price trends are closely watched by central banks, governments, and market participants for their impacts on inflation, consumer spending, and overall economic conditions.
Key Facts
- Brent crude is extracted from the North Sea.
- Brent is a major global benchmark for crude oil pricing.
- The Brent price influences two-thirds of the world's crude oil.
FAQs
Q: What does this economic trend measure?
A: The 'Weekly Brent Crude Oil Price' series measures the weekly spot price of Brent crude oil, a major global benchmark for crude oil pricing.
Q: Why is this trend relevant for users or analysts?
A: This indicator is closely watched by economists and policymakers as oil prices influence energy costs, consumer prices, and overall economic activity.
Q: How is this data collected or calculated?
A: The Brent spot price is collected and reported weekly by the U.S. Energy Information Administration.
Q: How is this trend used in economic policy?
A: Oil price trends are closely watched by central banks, governments, and market participants for their impacts on inflation, consumer spending, and overall economic conditions.
Q: Are there update delays or limitations?
A: The weekly Brent crude oil price data is reported promptly by the EIA with minimal delays.
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Citation
U.S. Federal Reserve, Weekly Brent Crude Oil Price (WCOILBRENTEU), retrieved from FRED.