Actual
116.028
Daily Change
-0.69 -0.59%
Monthly
18.60%
Yearly
78.78%
Q4 Forecast
120.583
Brent oil - Summary

Brent crude fell below $115 per barrel, retreating from multi-month highs as renewed diplomatic efforts to ease tensions between the US and Iran raised hopes of avoiding further disruptions to energy supplies. Security officials from Saudi Arabia, Pakistan and Turkey were expected to meet Iranian leaders to revive negotiations and prevent the conflict from spreading. Prices also came under pressure as crude shipments through the Strait of Hormuz recovered to near prewar levels despite continued attacks on vessels. US Central Command reported that more than 1.5 billion barrels had passed through the strait with American assistance since summer, even as Washington maintained a blockade of Iranian ports. Meanwhile, concerns that sustained high prices could weaken global oil demand added to the downward pressure. However, the diplomatic outlook remains uncertain, with fears that strikes against Iran could resume following this week’s Israeli elections and next week’s US midterm elections.

Brent oil - Stats

Brent fell to 115.96 USD/Bbl on October 26, 2026, down 0.65% from the previous day. Over the past month, Brent's price has risen 18.53%, and is up 78.67% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Brent oil reached an all time high of 147.50 in July of 2008. Brent oil - data, forecasts, historical chart - was last updated on October 26 of 2026.

Brent oil - Forecast

Brent fell to 115.96 USD/Bbl on October 26, 2026, down 0.65% from the previous day. Over the past month, Brent's price has risen 18.53%, and is up 78.67% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Brent oil is expected to trade at 120.58 USD/BBL by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 138.56 in 12 months time.



Price Day Month Year Date
Crude Oil 101.97 -1.302 -1.26% 10.12% 66.32% Oct/26
Brent 116.03 -0.692 -0.59% 18.60% 78.78% Oct/26
Natural gas 2.61 -0.0262 -0.99% -15.85% -34.61% Oct/26
Gasoline 3.23 0.0185 0.58% 2.29% 68.00% Oct/26
Heating Oil 4.93 -0.0574 -1.15% 9.60% 102.24% Oct/26
Coal 150.70 -0.45 -0.30% 5.02% 44.76% Oct/23
Ethanol 1.87 -0.0500 -2.61% -11.82% 11.01% Oct/22
Naphtha 942.76 26.55 2.90% 12.43% 78.81% Oct/23
Propane 1.20 0.03 2.35% 35.59% 82.55% Oct/26
Uranium 90.10 0.0500 0.06% 0.73% 17.17% Oct/23
Methanol 3,817.00 223.00 6.20% 7.67% 71.94% Oct/26
Urals Oil 115.07 8.83 8.31% 1.29% 89.07% Oct/23


Brent oil
Brent crude oil is one of the principal benchmark prices for oil traded globally. Originating from the North Sea, Brent serves as a key pricing reference for crude oil produced in Europe, Africa, and the Middle East, particularly for supplies moving westward. Due to its broad use in international trade, Brent is widely regarded as a global benchmark for oil pricing. Brent crude is typically classified as light and sweet, meaning it has relatively low density and sulfur content, making it easier to refine into products such as gasoline and diesel. Brent prices displayed on Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments and are intended to provide a general market reference only. These prices do not represent official Brent crude benchmarks. The data is supplied by a third party and, while efforts are made to ensure its reliability, Trading Economics does not verify the data and makes no representations or warranties.
Actual Previous Highest Lowest Dates Unit Frequency
115.96 116.72 147.50 2.23 1970 - 2026 USD/BBL Daily

News Stream
Brent Crude Falls From Peak
Brent crude fell below $115 per barrel, retreating from multi-month highs as renewed diplomatic efforts to ease tensions between the US and Iran raised hopes of avoiding further disruptions to energy supplies. Security officials from Saudi Arabia, Pakistan and Turkey were expected to meet Iranian leaders to revive negotiations and prevent the conflict from spreading. Prices also came under pressure as crude shipments through the Strait of Hormuz recovered to near prewar levels despite continued attacks on vessels. US Central Command reported that more than 1.5 billion barrels had passed through the strait with American assistance since summer, even as Washington maintained a blockade of Iranian ports. Meanwhile, concerns that sustained high prices could weaken global oil demand added to the downward pressure. However, the diplomatic outlook remains uncertain, with fears that strikes against Iran could resume following this week’s Israeli elections and next week’s US midterm elections.
2026-10-26
Brent Retreats Despite Rising Middle East Tensions
Brent crude fell toward $115 per barrel on Monday, retreating from multi-month highs despite fears that strikes against Iran could resume following this week’s Israeli elections and next week’s US midterm elections. President Donald Trump said on Sunday that he would soon decide whether to pursue a deal with Tehran or restart military operations, as threats from Iran and the Houthis against Americans in the Middle East continue to escalate. Iran is reportedly prepared to retaliate, potentially targeting Israel and the UAE. Meanwhile, clashes between Saudi Arabia and Iran-backed Houthi rebels intensified over the weekend, with the rebel group claiming to have targeted King Khalid International Airport in Riyadh in response to Saudi strikes on Sanaa and other parts of Yemen on Saturday. Despite these developments, Middle Eastern crude exports have recovered to near prewar levels, although a renewed escalation in the conflict could further disrupt regional energy supplies.
2026-10-25
Brent Hits Over 4-Year High
Brent crude rose above $116 a barrel on Friday, reaching an over 4-year high as expectations grew that the US could resume strikes against Iran in the coming weeks. US President Trump said Wednesday that Washington was not negotiating with Tehran and that something would happen “fairly soon.” Reports indicate that the US and Israel are planning fresh strikes on Iran after the midterm elections. Meanwhile, Iran’s army chief said the country’s military was fully prepared for “asymmetric warfare” after strengthening its capabilities. Iran-allied Houthi militants have continued attacks on Saudi Arabia, prompting the US State Department to order non-essential personnel to leave the country. Oil giant Saudi Aramco also instructed staff to evacuate its Dhahran headquarters and work remotely following a series of attacks. On the week, brent crude prices rose more than 6%.
2026-10-23