Crude oil is a naturally occurring, unrefined petroleum liquid composed of hydrocarbon deposits and other organic materials found in geological formations beneath the Earth's surface. It is extracted via drilling and serves as the primary raw material for the petroleum refining industry, where it is processed into fuels such as gasoline, diesel, jet fuel, and heating oil, as well as petrochemical feedstocks including naphtha, ethylene, and propylene, and other products such as lubricants, asphalt, and waxes. Crude oil varies widely in composition, color, viscosity, and density depending on its geographic origin and geological source. It is classified primarily by API gravity (a measure of density relative to water) and sulfur content, which together determine its commercial value and refining complexity. Major benchmark crudes include West Texas Intermediate (WTI), Brent Blend, and Dubai/Oman.
Analysts Sentiment
Bullish
Neutral
Bearish
Data source: UN Comtrade public trade statistics (https://comtradeapi.un.org/public/v1/preview/C/M/HS?reporterCode=156,842,699,410,276,528,356,360,764,458,724,40,56,251,380,616,826,124,76,484,792,682,784,704,490,702,643,36,710,818,364,203,348,300,620,372,208,246,752,578,320,508&period=202607&cmdCode=270900&partnerCode=0&flowCode=X&includeDesc=true) | Last updated: 2026-11-07
Latest published data (2025-08 to 2026-07) — Sentiment: Bullish
The most recent published customs observation for HS 270900 is 2026-07 at USD 516.29/ton, -7.7% against the previous month and +11.3% against 2025-08.
Reported volume across the fixed 8-economy panel was 554,942,864 tonnes over the window, 46,245,239 tonnes a month on average, and the three-month trend is +7.0%.
Next 1–3 Months — Outlook
This page is refreshed from public customs statistics rather than paid price assessments, so the next revision will roll in each newly published month for HS 270900. Direction shown here is a reading of published customs unit values, not a forecast.
Key Market Impact
Customs unit values for this heading are the single most checkable price signal available without a subscription: they combine the product mix actually crossing borders, the average contract level behind those shipments, and freight-relevant volume. Buyers and sellers using this page should treat them as the trade-weighted baseline for the heading, and read the coverage note above before applying them to a single grade.
| Property | Typical Value / Range | Unit | Grade / Benchmark |
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Data Sources
Price and volume figures are derived from the directly verified public sources below. The customs unit values are USD/ton; they are not subscription price assessments. Grade-level specifications are not restated here: confirm them with the supplier. Every monthly endpoint used for the series on this page is listed below, together with the HS classification reference.
- https://comtradeapi.un.org/public/v1/preview/C/M/HS?reporterCode=156,842,699,410,276,528,356,360,764,458,724,40,56,251,380,616,826,124,76,484,792,682,784,704,490,702,643,36,710,818,364,203,348,300,620,372,208,246,752,578,320,508&period=202508&cmdCode=270900&partnerCode=0&flowCode=X&includeDesc=true
- https://comtradeapi.un.org/public/v1/preview/C/M/HS?reporterCode=156,842,699,410,276,528,356,360,764,458,724,40,56,251,380,616,826,124,76,484,792,682,784,704,490,702,643,36,710,818,364,203,348,300,620,372,208,246,752,578,320,508&period=202509&cmdCode=270900&partnerCode=0&flowCode=X&includeDesc=true
- https://comtradeapi.un.org/public/v1/preview/C/M/HS?reporterCode=156,842,699,410,276,528,356,360,764,458,724,40,56,251,380,616,826,124,76,484,792,682,784,704,490,702,643,36,710,818,364,203,348,300,620,372,208,246,752,578,320,508&period=202510&cmdCode=270900&partnerCode=0&flowCode=X&includeDesc=true
- https://comtradeapi.un.org/public/v1/preview/C/M/HS?reporterCode=156,842,699,410,276,528,356,360,764,458,724,40,56,251,380,616,826,124,76,484,792,682,784,704,490,702,643,36,710,818,364,203,348,300,620,372,208,246,752,578,320,508&period=202511&cmdCode=270900&partnerCode=0&flowCode=X&includeDesc=true
- https://comtradeapi.un.org/public/v1/preview/C/M/HS?reporterCode=156,842,699,410,276,528,356,360,764,458,724,40,56,251,380,616,826,124,76,484,792,682,784,704,490,702,643,36,710,818,364,203,348,300,620,372,208,246,752,578,320,508&period=202512&cmdCode=270900&partnerCode=0&flowCode=X&includeDesc=true
- https://comtradeapi.un.org/public/v1/preview/C/M/HS?reporterCode=156,842,699,410,276,528,356,360,764,458,724,40,56,251,380,616,826,124,76,484,792,682,784,704,490,702,643,36,710,818,364,203,348,300,620,372,208,246,752,578,320,508&period=202601&cmdCode=270900&partnerCode=0&flowCode=X&includeDesc=true
- https://comtradeapi.un.org/public/v1/preview/C/M/HS?reporterCode=156,842,699,410,276,528,356,360,764,458,724,40,56,251,380,616,826,124,76,484,792,682,784,704,490,702,643,36,710,818,364,203,348,300,620,372,208,246,752,578,320,508&period=202602&cmdCode=270900&partnerCode=0&flowCode=X&includeDesc=true
- https://comtradeapi.un.org/public/v1/preview/C/M/HS?reporterCode=156,842,699,410,276,528,356,360,764,458,724,40,56,251,380,616,826,124,76,484,792,682,784,704,490,702,643,36,710,818,364,203,348,300,620,372,208,246,752,578,320,508&period=202603&cmdCode=270900&partnerCode=0&flowCode=X&includeDesc=true
- https://comtradeapi.un.org/public/v1/preview/C/M/HS?reporterCode=156,842,699,410,276,528,356,360,764,458,724,40,56,251,380,616,826,124,76,484,792,682,784,704,490,702,643,36,710,818,364,203,348,300,620,372,208,246,752,578,320,508&period=202604&cmdCode=270900&partnerCode=0&flowCode=X&includeDesc=true
- https://comtradeapi.un.org/public/v1/preview/C/M/HS?reporterCode=156,842,699,410,276,528,356,360,764,458,724,40,56,251,380,616,826,124,76,484,792,682,784,704,490,702,643,36,710,818,364,203,348,300,620,372,208,246,752,578,320,508&period=202605&cmdCode=270900&partnerCode=0&flowCode=X&includeDesc=true
- https://comtradeapi.un.org/public/v1/preview/C/M/HS?reporterCode=156,842,699,410,276,528,356,360,764,458,724,40,56,251,380,616,826,124,76,484,792,682,784,704,490,702,643,36,710,818,364,203,348,300,620,372,208,246,752,578,320,508&period=202606&cmdCode=270900&partnerCode=0&flowCode=X&includeDesc=true
- https://comtradeapi.un.org/public/v1/preview/C/M/HS?reporterCode=156,842,699,410,276,528,356,360,764,458,724,40,56,251,380,616,826,124,76,484,792,682,784,704,490,702,643,36,710,818,364,203,348,300,620,372,208,246,752,578,320,508&period=202607&cmdCode=270900&partnerCode=0&flowCode=X&includeDesc=true
- https://comtradeapi.un.org/files/v1/app/reference/HS.json
How About the Price?
Key Influence Events
Data source: UN Comtrade public trade statistics (https://comtradeapi.un.org/public/v1/preview/C/M/HS?reporterCode=156,842,699,410,276,528,356,360,764,458,724,40,56,251,380,616,826,124,76,484,792,682,784,704,490,702,643,36,710,818,364,203,348,300,620,372,208,246,752,578,320,508&period=202607&cmdCode=270900&partnerCode=0&flowCode=X&includeDesc=true) | Last updated: 2026-11-07
Price Trajectory, latest 12 months (2025-08 to 2026-07)
The monthly customs export unit value for HS 270900 moved from USD 463.74/ton in 2025-08 to USD 516.29/ton in 2026-07 (+11.3% across the window). The window high was USD 604.91/ton in 2026-05 and the low USD 442.07/ton in 2026-01. Three-month averages put the latest quarter +7.0% against the previous one, which is read here as bullish.
The same panel reported USD 279,853.3 million of export value on 554,942,864 tonnes over the twelve months, an average of 46,245,239 tonnes a month. Values are customs returns for the stated HS heading, so they capture the traded mix of that heading rather than a single quoted grade.
2026-08 is deliberately not in the series: of the 8 economies that make up this page's fixed panel, 6 had filed both value and net weight for this heading when the page was re-checked on 2026-11-07 (the heading drew 11 filers in total that month); neither 2026-09 nor 2026-10 drew a single filing for this heading. Splicing a partly-filed month onto a fixed panel would move the unit value through composition alone, so the window stays at 2026-07 until the whole panel for 2026-08 has reported.
HS 270900 covers crude petroleum oils and oils obtained from bituminous minerals, so the series is a crude-slate average rather than a single crude grade or benchmark.
Supply-side factors
- Fixed reporting panel of 8 economies: AUS (36), CAN (124), DNK (208), DEU (276), MYS (458), MEX (484), GBR (826), USA (842). The panel is held constant in every month of the window so month-to-month movement is not a composition effect.
- Monthly unit value range over the window: USD 442.07 to USD 604.91/ton.
- Latest month, 2026-07: USD 516.29/ton, -7.7% against the previous month, on 44,495,765 tonnes.
Demand-side factors
- Crude oil is the upstream feedstock for the whole refinery complex, so its traded unit value sets the floor under gasoline, diesel, jet fuel, naphtha, bitumen and petcoke realisations.
- Related market pages on this site: Diesel, Naphtha and Gasoline; see also Petroleum Coke, the refinery residue left after the crude run.
Basis: these are customs unit values for the stated HS heading, not quoted spot, contract or assessed prices, and no paid price assessment is used or redistributed on this page. Every figure can be re-checked at the API links listed at the end of this page.
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