en
Oil prices
/ɔɪl ˈpraɪsɪz/
Definition
1
The current market value per barrel or unit of crude oil or refined petroleum products traded on commodity exchanges like Brent or WTI benchmarks.
2
A key economic indicator reflecting global supply-demand dynamics, geopolitical tensions, and energy sector fluctuations.
Examples
Oil prices dipped so low that my uncle started investing his coffee budget in futures.
When oil prices spike, suddenly everyone's an energy expert at the gas station.
Oil prices are crashing harder than a viral TikTok dance flop.
Blame the wild swings in oil prices for why your avocado toast now costs a fortune.