The development of crude oil prices on the global market is influenced by various factors, including geopolitical conditions, supply and demand, and OPEC policies. In recent years, oil prices have experienced significant fluctuations, creating far-reaching impacts on economies around the world. In 2020, crude oil prices plummeted due to the COVID-19 pandemic which drastically reduced energy demand. WTI (West Texas Intermediate) even traded below zero dollars per barrel in April 2020, showing an extreme production surplus. However, with the global economic recovery in 2021, oil prices are starting to recover. Rising demand driven by the easing of social restrictions and the revival of the transportation industry also contributed to rising prices. Geopolitics also plays an important role in price developments. The crisis in the Middle East, including tensions between oil-producing countries, could cause price spikes. For example, instability in Libya or conflict in Iran often make investors worry about supply cuts, resulting in panic in the market. In 2022, the legacy of global geopolitical tensions and the war between Russia and Ukraine is having a major impact. Sanctions on Russia caused supply disruptions, which pushed global crude oil prices soaring. Brent Crude, the global oil price benchmark, reached its highest price in recent years, exceeding $120 per barrel. Apart from external factors, OPEC+ policies also influence price levels. The decision to cut production proved effective in supporting prices in times of excess supply. OPEC+ regularly holds meetings to adjust production targets, taking into account market conditions and demand forecasts. Demand for renewable energy is also starting to have an impact in the long term. While this may not have a direct impact on prices in the near term, the transition to sustainable energy suggests that crude oil’s dominance may be waning. This makes investors consider the long-term risks and implications of shifting global energy policies. From an investment perspective, crude oil is still one of the most traded commodities. Investors use futures and options to manage risks related to price fluctuations. In technical analysis, price patterns and trading volume are often evaluated to predict future price direction. Crude oil price movements in the market are also influenced by inventory statistics. Weekly reports on US crude oil inventories often trigger market reactions. A reduction in inventory usually indicates higher demand, which can push prices up. Overall, the development of global crude oil prices is the result of complex interactions between internal and external factors. Given continued volatility, careful monitoring will remain important for market players, both in the context of global energy investment, production and consumption.