Actual
98.320
Daily Change
0.03 0.03%
Monthly
-1.88%
Yearly
54.52%
Q4 Forecast
100.922
Brent oil - Summary

Brent crude wavered near $98 a barrel on Friday, trimming earlier losses as investors weighed the risk of renewed US-Iran military escalation against prospects for a diplomatic breakthrough. Investors are assessing whether the end of the US midterm elections could pave the way for renewed action against Iran, potentially threatening Middle East oil supplies. Iran reported attacks on oil tankers in the Strait of Hormuz on Thursday, while UKMTO data indicated vessel attacks were continuing at a near-record rate. Hopes for a diplomatic resolution emerged after Iran reportedly sent a nuclear proposal to Washington through Qatar. Significant obstacles remain over Iran’s nuclear programme, with the US demanding that Iran give up its nuclear capabilities. Meanwhile, Iran demands the lifting of the US naval blockade, sanctions relief and the release of frozen assets before fully reopening the Strait of Hormuz. Brent plunged over 12.5% for the week.

Brent oil - Stats

Brent rose to 98.32 USD/Bbl on November 6, 2026, up 0.03% from the previous day. Over the past month, Brent's price has fallen 1.88%, but it is still 54.52% higher than a year ago, 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 November 8 of 2026.

Brent oil - Forecast

Brent rose to 98.32 USD/Bbl on November 6, 2026, up 0.03% from the previous day. Over the past month, Brent's price has fallen 1.88%, but it is still 54.52% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Brent oil is expected to trade at 100.92 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 116.84 in 12 months time.



Price Day Month Year Date
Crude Oil 90.83 0.310 0.34% 2.89% 52.02% Nov/06
Brent 98.32 0.030 0.03% -1.88% 54.52% Nov/06
Natural gas 3.00 0.0510 1.73% -6.40% -30.52% Nov/06
Gasoline 2.78 0.0133 0.48% -14.15% 42.90% Nov/06
Heating Oil 4.33 -0.0202 -0.46% -6.30% 74.52% Nov/06
Coal 144.45 -0.75 -0.52% -5.09% 30.55% Nov/05
Ethanol 1.79 0.0100 0.56% -12.04% 5.60% Nov/05
Naphtha 818.01 13.14 1.63% -1.95% 51.52% Nov/06
Propane 1.10 0 0% 18.08% 74.79% Nov/06
Uranium 91.85 -0.1000 -0.11% 2.23% 18.59% Nov/06
Methanol 3,503.00 -69.00 -1.93% -14.60% 66.97% Nov/06
Urals Oil 76.85 -8.54 -10.00% -36.69% 35.87% Nov/05


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
98.32 98.29 147.50 2.23 1970 - 2026 USD/BBL Daily

News Stream
Brent Rebounds as Middle East Tensions Persist
Brent crude wavered near $98 a barrel on Friday, trimming earlier losses as investors weighed the risk of renewed US-Iran military escalation against prospects for a diplomatic breakthrough. Investors are assessing whether the end of the US midterm elections could pave the way for renewed action against Iran, potentially threatening Middle East oil supplies. Iran reported attacks on oil tankers in the Strait of Hormuz on Thursday, while UKMTO data indicated vessel attacks were continuing at a near-record rate. Hopes for a diplomatic resolution emerged after Iran reportedly sent a nuclear proposal to Washington through Qatar. Significant obstacles remain over Iran’s nuclear programme, with the US demanding that Iran give up its nuclear capabilities. Meanwhile, Iran demands the lifting of the US naval blockade, sanctions relief and the release of frozen assets before fully reopening the Strait of Hormuz. Brent plunged over 12.5% for the week.
2026-11-06
Brent Crude Set for Biggest Weekly Drop since Covid
Brent crude fell below $98 a barrel on Friday, down more than 13% this week, the steepest decline since March 2020, as hopes of a diplomatic breakthrough in the Middle East eased concerns over supply disruptions. US President Donald Trump discussed de-escalation efforts with Qatar’s Emir Sheikh Tamim bin Hamad Al-Thani, while Tehran is reportedly reviewing proposals from mediators concerning its nuclear programme. A potential resolution to the conflict could allow more crude exports from the region. However, significant obstacles remain, as Iran is demanding the lifting of the US naval blockade, sanctions relief and the release of frozen assets before fully reopening the Strait of Hormuz. Meanwhile, attacks on oil-carrying vessels continue, with UKMTO data indicating that incidents remain close to record levels.
2026-11-06
Brent Set for Sharp Weekly Decline
Brent crude rose above $99 per barrel on Friday but was still on track to post a weekly loss of more than 11%, driven by optimism over a potentially quicker resolution to the Middle East conflict following a Democratic sweep in the US midterm elections, although uncertainties persist. Democrats secured control of both houses of Congress, potentially limiting President Donald Trump’s support for the war against Iran. Tehran is reportedly reviewing proposals submitted by mediators regarding its nuclear program, but maintained that the US naval blockade of its ports must be lifted, sanctions eased and frozen assets released before it fully reopens the Strait of Hormuz. Meanwhile, at least five vessel-related incidents have been reported in the Persian Gulf since Sunday, highlighting continued risks to maritime shipping. Still, conditions have improved significantly, with Gulf crude exports recovering to near pre-war levels, although transportation costs remain elevated.
2026-11-05