| Product | Region | Incoterm Basis | Price | Last Updated Month |
| Crude Oil | USA | FOB | USD 105.07/bbl | April 2026 |
| Crude Oil | UAE | FOB | USD 108.02/MT | April 2026 |
| Crude Oil | Russia | FOB | USD 112.14/MT | April 2026 |
| Crude Oil | Netherlands | FOB | USD 110.40/MT | April 2026 |
| Crude Oil | Iran | FOB | USD 105.70/MT | April 2026 |
| Crude Oil | USA | FOB | USD 101.38/bbl | March 2026 |
| Crude Oil | UAE | FOB | USD 106.81/MT | March 2026 |
| Crude Oil | Russia | FOB | USD 98.04/MT | March 2026 |
| Crude Oil | Netherlands | FOB | USD 103.97/MT | March 2026 |
| Crude Oil | Iran | FOB | USD 102.88/MT | March 2026 |
Stay updated with the latest crude oil prices, historical data, and tailored regional analysis
Asia
In India, crude oil prices climbed from INR 4,965.06/barrel in January to INR 6,590.20/barrel in March, marking a 23.35% month-on-month jump and a 13.87% increase quarter-on-quarter. The Middle East conflict disrupted standard tanker routes through the Strait of Hormuz, prompting a surge in freight charges and insurance costs for crude shipments. Indian refiners such as IOC, HPCL, and BPCL began demanding advance payments from retail outlets to manage constrained supply. With 40% of India’s crude imported from the Middle East and 60% of LPG passing through Hormuz, domestic LPG availability dropped. Refineries have been forced to seek alternate suppliers, including Russian barrels, while rescheduling maintenance and shipping plans to mitigate shortages.
Europe
In the European region, the crude oil prices rose notably in the first quarter of 2026. Disrupted Gulf exports forced European buyers to compete for limited cargoes, driving up both freight rates and insurance premiums. LNG shipments intended for Asia were partially rerouted, affecting European energy logistics. Supply shortfalls combined with a stronger dollar raised import costs. Energy security concerns also prompted European buyers to secure long-term contracts and explore non-Gulf sources. Overall, these factors kept crude and product prices high despite moderate demand growth tempered by inflationary pressures and economic slowdown risks.
North America
Crude oil in North America rose from 64 USD/barrel (SPOT) in January to 86 USD/barrel in March, representing a 25.56% month-on-month increase and 16.74% quarter-on-quarter rise. The U.S. faced high-risk premiums for Gulf imports, with insurance and freight costs climbing sharply due to the Iran war. Strategic stockpiles helped cushion the impact, with crude inventories rising by 3.5 million barrels to the highest level in over three years. Domestic production adjustments and potential U.S. Navy escort operations for tankers through Hormuz were key to stabilizing the market. Nonetheless, the elevated geopolitical risk kept WTI prices volatile, with further spikes possible if tanker traffic remains restricted.
Analyst Insight
According to Procurement Resource, Crude oil prices are expected to stay elevated in the near term as geopolitical tensions persist, and Gulf shipping routes remain disrupted. Any easing of the conflict could lead to gradual stabilization, but markets will remain sensitive to supply and logistical risks.
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| Product | Category | Region | Price | Last Updated Month |
| Crude Oil | Operating Costs, Logistics and Utilities | India | 59 USD/Barrel | October 2025 |
| Crude Oil | Operating Costs, Logistics and Utilities | India | 58 USD/Barrel | December 2025 |
| Crude Oil | Operating Costs, Logistics and Utilities | North America | 63 USD/Barrel | October 2025 |
| Crude Oil | Operating Costs, Logistics and Utilities | North America | 63 USD/Barrel | November 2025 |
Stay updated with the latest Crude Oil prices, historical data, and tailored regional analysis
Asia
The Asian crude oil market during the fourth quarter exhibited mixed price movements characterized by volatility and shifting fundamentals. The prices were about 59 USD/Barrel in October and around 58 USD/Barrel in December in the Indian markets. The quarter opened with prices experiencing a sharp decline through the early period as mounting concerns regarding global oversupply emerged, with international agencies raising supply growth projections while lowering demand forecasts. Following this initial weakness, prices entered a period of range-bound trading and modest stabilization through the middle portion of the quarter as market participants assessed evolving supply-demand dynamics.
Brief recovery attempts materialized as geopolitical considerations and short-term supply adjustments provided temporary support. However, persistent surplus expectations and weaker economic indicators from China, including slower factory output and retail sales growth, prevented sustained upward momentum. The latter portion of the quarter saw renewed downward pressure as trade tensions between major economies added uncertainty, while reduced geopolitical risk premiums diminished price supports. Prices fluctuated within established ranges before closing the period with mixed direction, reflecting the competing influences of supply abundance and sporadic demand signals.
Europe
In the European region, the crude oil price graph demonstrated wavering pricing patterns throughout the fourth quarter. International Energy Agency projections indicated supply growth of three million barrels per day, outpacing demand estimates of approximately seven hundred thousand barrels daily, creating persistent downward pressure. OPEC+ announcements regarding production increases, combined with expectations of robust output from the Americas, intensified oversupply fears and drove prices lower.
The market witnessed brief recovery attempts sparked by optimism surrounding potential de-escalation of trade tensions, though these rebounds proved short-lived as fundamental supply-demand imbalances reasserted control. Reduced geopolitical risk premiums emerged as stability expectations improved in key producing regions, further limiting upward price supports. The latter portion of the quarter saw prices fluctuating within established ranges as traders balanced accumulating inventory forecasts against sporadic demand signals from European industrial and transportation sectors, with overall consumption patterns showing limited growth momentum amid economic uncertainties.
North America
North American markets experienced relatively stable price trajectory during the quarter. The prices were about 63 USD/Barrel (SPOT) in October and around 63 USD/Barrel in November. Prices fell slightly through the early period, continuing the decline from the previous quarter, before establishing a more stable trading range. Domestic production maintained a steady output with forecasts indicating continued modest expansion capability. The market absorbed supply disruptions related to Latin American producers through existing inventory buffers and alternative sources. OPEC+ production increases added volumes to global availability, though demand patterns across transportation and industrial sectors provided offsetting support. Price differentials between regional benchmarks reflected transportation infrastructure considerations and localized supply-demand balances, with markets demonstrating greater stability compared to earlier volatility.
Crude Oil is an unrefined petroleum product. Petroleum is basically a naturally occurring, yellowish-black liquid that is most commonly found in geological formations beneath the Earth's surface. Crude Oil is extracted for burning as fuel and for processing into chemical products. It is a combination of comparatively volatile liquid hydrocarbons. Being a type of fossil fuel, crude oil is refined to manufacture usable products like gasoline, diesel, and several other forms of petrochemicals.
Jet fuel and diesel, Lubricating oils, Gasoline, Tar, Heating oils, Asphalt, Electricity generation, Paraffin wax
Black Gold
Sinopec, Royal Dutch Shell, Saudi Arabian Oil Co., China National Petroleum Corporation, BP p.l.c., Exxon Mobil Corporation, Kuwait Petroleum Corporation, Total SA, LUKOIL
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Crude Oil is extracted using different methods depending on geology and location. After its extraction, impurities are separated, and the product is further refined to produce different petroleum-based products.
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This report presents a detailed cost analysis of butylene production from crude oil by catalytic cracking.
This report provides the cost structure of LPG production by the petroleum refining process. In this process, the crude oil recovered is separated into oil and wet gas via a gas trap.
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