diff --git a/CHANGELOG.md b/CHANGELOG.md
index 69b6c4b..a7da1d8 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -13,6 +13,15 @@
   origin is compared against the configured base URL before the credential is
   attached. Explicit custom `$baseUrl` values are unaffected.
 
+### Fixed
+
+- Reject malformed price rows instead of reporting them as `$0.00`. A row
+  without a usable code or a numeric price, an unparseable timestamp, and a
+  missing or non-array `prices` field now raise `ApiException` across
+  `latest()`, the historical period methods and `demoPrices()`. Legitimate
+  zero and negative prices are preserved, and a genuinely empty `prices` list
+  still returns an empty array.
+
 ## 2.1.2 (2026-08-11)
 
 ### Fixed
diff --git a/src/Client.php b/src/Client.php
index ff0785e..265095e 100644
--- a/src/Client.php
+++ b/src/Client.php
@@ -105,12 +105,12 @@ public function latest(?string $byCode = null): Price|array
             }
 
             return array_map(
-                fn (mixed $price): Price => $this->latestPriceOrFail($price, $body),
+                fn (mixed $price): Price => $this->priceOrFail($price, $body, '/v1/prices/latest'),
                 array_values($data['prices']),
             );
         }
 
-        return $this->latestPriceOrFail($data, $body);
+        return $this->priceOrFail($data, $body, '/v1/prices/latest');
     }
 
     /**
@@ -162,9 +162,8 @@ public function demoPrices(): array
     {
         $body = $this->request('/v1/demo/prices', []);
         $data = $this->dataOrFail($body, '/v1/demo/prices');
-        $prices = is_array($data['prices'] ?? null) ? $data['prices'] : [];
 
-        return array_map(Price::fromArray(...), array_values($prices));
+        return $this->priceListOrFail($data, $body, '/v1/demo/prices');
     }
 
     /**
@@ -183,11 +182,11 @@ public function raw(): RawClient
     private function historical(string $period, ?string $byCode): array
     {
         $params = $byCode !== null ? ['by_code' => $byCode] : [];
-        $body = $this->request('/v1/prices/' . $period, $params);
-        $data = $this->dataOrFail($body, '/v1/prices/' . $period);
-        $prices = is_array($data['prices'] ?? null) ? $data['prices'] : [];
+        $path = '/v1/prices/' . $period;
+        $body = $this->request($path, $params);
+        $data = $this->dataOrFail($body, $path);
 
-        return array_map(Price::fromArray(...), array_values($prices));
+        return $this->priceListOrFail($data, $body, $path);
     }
 
     /**
@@ -209,23 +208,58 @@ private function dataOrFail(array $body, string $path): array
     }
 
     /**
-     * @param mixed                $data
+     * Decode a list-returning endpoint.
+     *
+     * A missing or non-array `prices` field is a malformed envelope, not an
+     * empty result: returning [] for it reports "no data" for a response the
+     * SDK simply failed to understand. An actual empty list stays empty.
+     *
+     * @param array<string, mixed> $data
      * @param array<string, mixed> $body
+     *
+     * @return list<Price>
      */
-    private function latestPriceOrFail(mixed $data, array $body): Price
+    private function priceListOrFail(array $data, array $body, string $path): array
+    {
+        if (!array_key_exists('prices', $data) || !is_array($data['prices'])) {
+            throw new ApiException(
+                sprintf('Unexpected response shape from %s: no price list in the envelope.', $path),
+                200,
+                $body,
+            );
+        }
+
+        return array_map(
+            fn (mixed $row): Price => $this->priceOrFail($row, $body, $path),
+            array_values($data['prices']),
+        );
+    }
+
+    /**
+     * The single validated price-row boundary shared by latest, history and demo.
+     *
+     * @param array<string, mixed> $body
+     */
+    private function priceOrFail(mixed $row, array $body, string $path): Price
+    {
+        if (is_array($row)) {
+            try {
+                return Price::fromArray($row);
+            } catch (ApiException $e) {
+                throw new ApiException($this->malformedRowMessage($path, $e->getMessage()), 200, $body);
+            }
+        }
+
+        throw new ApiException($this->malformedRowMessage($path, 'Price row is not an object.'), 200, $body);
+    }
+
+    private function malformedRowMessage(string $path, string $detail): string
     {
-        if (
-            !is_array($data)
-            || !isset($data['code'])
-            || !is_string($data['code'])
-            || trim($data['code']) === ''
-            || !array_key_exists('price', $data)
-            || !is_numeric($data['price'])
-        ) {
-            throw new ApiException('Unexpected latest price shape from /v1/prices/latest.', 200, $body);
+        if ($path === '/v1/prices/latest') {
+            return 'Unexpected latest price shape from /v1/prices/latest. ' . $detail;
         }
 
-        return Price::fromArray($data);
+        return sprintf('Unexpected price row in the response from %s. %s', $path, $detail);
     }
 
     /**
diff --git a/src/Price.php b/src/Price.php
index 8134e6c..b1b1e79 100644
--- a/src/Price.php
+++ b/src/Price.php
@@ -6,6 +6,7 @@
 
 use DateTimeImmutable;
 use DateTimeInterface;
+use OilPriceAPI\Exception\ApiException;
 
 /**
  * Immutable price data transfer object.
@@ -41,10 +42,32 @@ public function __construct(
      * `created_at`/`updated_at` for the timestamp and `change_24h`/
      * `change_percent_24h` for the 24h change.
      *
+     * A row that does not carry a usable code and a numeric price is rejected
+     * rather than defaulted: a manufactured $0.00 is indistinguishable from a
+     * real quote once it leaves the SDK. Legitimate zero and negative prices
+     * are preserved.
+     *
      * @param array<string, mixed> $data
+     *
+     * @throws ApiException when a required field is missing or unparseable
      */
     public static function fromArray(array $data): self
     {
+        if (
+            !isset($data['code'])
+            || !is_string($data['code'])
+            || trim($data['code']) === ''
+        ) {
+            throw new ApiException('Price row is missing a usable commodity code.');
+        }
+
+        if (!array_key_exists('price', $data) || !is_numeric($data['price'])) {
+            throw new ApiException(sprintf(
+                'Price row for %s is missing a numeric price; refusing to report it as 0.',
+                $data['code'],
+            ));
+        }
+
         $timestamp = $data['created_at'] ?? $data['updated_at'] ?? null;
         $updatedAt = null;
         if (is_string($timestamp) && $timestamp !== '') {
@@ -56,14 +79,20 @@ public static function fromArray(array $data): self
                     $parsed = null;
                 }
             }
-            $updatedAt = $parsed ?: null;
+            if (!$parsed instanceof DateTimeImmutable) {
+                throw new ApiException(sprintf(
+                    'Price row for %s carries an unparseable timestamp.',
+                    $data['code'],
+                ));
+            }
+            $updatedAt = $parsed;
         }
 
         $change = $data['change_24h'] ?? $data['change_percent_24h'] ?? null;
 
         return new self(
-            code: (string) ($data['code'] ?? ''),
-            price: (float) ($data['price'] ?? 0.0),
+            code: $data['code'],
+            price: (float) $data['price'],
             currency: (string) ($data['currency'] ?? 'USD'),
             updatedAt: $updatedAt,
             change24h: is_numeric($change) ? (float) $change : null,
diff --git a/tests/MalformedPriceRowTest.php b/tests/MalformedPriceRowTest.php
new file mode 100644
index 0000000..9082474
--- /dev/null
+++ b/tests/MalformedPriceRowTest.php
@@ -0,0 +1,168 @@
+<?php
+
+declare(strict_types=1);
+
+namespace OilPriceAPI\Tests;
+
+use OilPriceAPI\Client;
+use OilPriceAPI\Exception\ApiException;
+use OilPriceAPI\Price;
+use PHPUnit\Framework\Attributes\DataProvider;
+use PHPUnit\Framework\TestCase;
+
+/**
+ * A price row that cannot be parsed must raise, never become $0.00.
+ *
+ * A fabricated zero is indistinguishable from a real quote: the caller has no
+ * way to detect it, so it propagates into pricing, invoices and models as if
+ * the market had printed it.
+ */
+final class MalformedPriceRowTest extends TestCase
+{
+    private MockTransport $transport;
+
+    protected function setUp(): void
+    {
+        $this->transport = new MockTransport();
+    }
+
+    private function client(?string $key = 'fixture_key_NOT_REAL'): Client
+    {
+        return new Client($key, 'https://api.oilpriceapi.com', 10.0, 0, $this->transport);
+    }
+
+    /**
+     * @return array<string, array{array<string, mixed>}>
+     */
+    public static function malformedRows(): array
+    {
+        return [
+            'empty row' => [[]],
+            'missing price' => [['code' => 'BRENT_CRUDE_USD']],
+            'null price' => [['code' => 'BRENT_CRUDE_USD', 'price' => null]],
+            'non-numeric price' => [['code' => 'BRENT_CRUDE_USD', 'price' => 'not-a-number']],
+            'empty string price' => [['code' => 'BRENT_CRUDE_USD', 'price' => '']],
+            'array price' => [['code' => 'BRENT_CRUDE_USD', 'price' => ['value' => 70.0]]],
+            'missing code' => [['price' => 70.0]],
+            'empty code' => [['code' => '   ', 'price' => 70.0]],
+            'non-string code' => [['code' => 123, 'price' => 70.0]],
+            'malformed timestamp' => [['code' => 'BRENT_CRUDE_USD', 'price' => 70.0, 'created_at' => 'not-a-date']],
+        ];
+    }
+
+    /**
+     * @param array<string, mixed> $row
+     */
+    #[DataProvider('malformedRows')]
+    public function testHistoricalRejectsMalformedRow(array $row): void
+    {
+        $this->transport->queue(200, ['status' => 'success', 'data' => ['prices' => [$row]]]);
+
+        $this->expectException(ApiException::class);
+        $this->client()->pastDay('BRENT_CRUDE_USD');
+    }
+
+    /**
+     * @param array<string, mixed> $row
+     */
+    #[DataProvider('malformedRows')]
+    public function testDemoRejectsMalformedRow(array $row): void
+    {
+        $this->transport->queue(200, ['status' => 'success', 'data' => ['prices' => [$row]]]);
+
+        $this->expectException(ApiException::class);
+        $this->client(null)->demoPrices();
+    }
+
+    /**
+     * @param array<string, mixed> $row
+     */
+    #[DataProvider('malformedRows')]
+    public function testLatestRejectsMalformedRow(array $row): void
+    {
+        $this->transport->queue(200, ['status' => 'success', 'data' => $row]);
+
+        $this->expectException(ApiException::class);
+        $this->client()->latest('BRENT_CRUDE_USD');
+    }
+
+    public function testHistoricalNeverManufacturesAZeroPrice(): void
+    {
+        $this->transport->queue(200, ['status' => 'success', 'data' => ['prices' => [new \stdClass()]]]);
+
+        try {
+            $prices = $this->client()->pastDay('BRENT_CRUDE_USD');
+            $this->fail(sprintf(
+                'An unparseable price row was returned as data: %s',
+                json_encode(array_map(static fn (Price $p): array => $p->toArray(), $prices)),
+            ));
+        } catch (ApiException $e) {
+            $this->assertStringContainsString('/v1/prices/past_day', $e->getMessage());
+        }
+    }
+
+    public function testNonArrayPricesFieldIsNotAnEmptySuccessfulList(): void
+    {
+        $this->transport->queue(200, ['status' => 'success', 'data' => ['prices' => 'garbage']]);
+
+        $this->expectException(ApiException::class);
+        $this->client()->pastWeek('BRENT_CRUDE_USD');
+    }
+
+    public function testMissingPricesFieldIsNotAnEmptySuccessfulList(): void
+    {
+        $this->transport->queue(200, ['status' => 'success', 'data' => ['note' => 'no prices key']]);
+
+        $this->expectException(ApiException::class);
+        $this->client()->pastMonth('BRENT_CRUDE_USD');
+    }
+
+    public function testMissingPricesFieldOnDemoIsNotAnEmptySuccessfulList(): void
+    {
+        $this->transport->queue(200, ['status' => 'success', 'data' => ['note' => 'no prices key']]);
+
+        $this->expectException(ApiException::class);
+        $this->client(null)->demoPrices();
+    }
+
+    public function testLegitimatelyEmptyListIsStillAnEmptyList(): void
+    {
+        $this->transport->queue(200, ['status' => 'success', 'data' => ['prices' => []]]);
+
+        $this->assertSame([], $this->client()->pastYear('BRENT_CRUDE_USD'));
+    }
+
+    /**
+     * @return array<string, array{float|int|string}>
+     */
+    public static function legitimateNumericPrices(): array
+    {
+        return [
+            'zero' => [0],
+            'zero float' => [0.0],
+            'zero string' => ['0.00'],
+            'negative' => [-37.63],
+            'numeric string' => ['71.80'],
+        ];
+    }
+
+    #[DataProvider('legitimateNumericPrices')]
+    public function testLegitimateNumericPricesArePreserved(float|int|string $price): void
+    {
+        $this->transport->queue(200, [
+            'status' => 'success',
+            'data' => ['prices' => [['code' => 'WTI_USD', 'price' => $price, 'created_at' => '2026-04-20T00:00:00Z']]],
+        ]);
+
+        $prices = $this->client()->pastDay('WTI_USD');
+
+        $this->assertCount(1, $prices);
+        $this->assertSame((float) $price, $prices[0]->price);
+    }
+
+    public function testPriceFromArrayDoesNotInventAZeroPrice(): void
+    {
+        $this->expectException(ApiException::class);
+        Price::fromArray(['code' => 'BRENT_CRUDE_USD']);
+    }
+}