Brent crude oil futures fluctuated around $71.5 per barrel on Friday, near a six-month high and set for a weekly gain of 5%, after US President Donald Trump said he is considering a limited military strike on Iran and warned Tehran it has 15 days at most to reach a nuclear deal. At the same time, the US is conducting its largest military buildup in the Middle East since 2003, increasing the risk of a broader conflict. Iran produces over 3 million barrels per day, about 3% of global output, mainly for China, and could threaten the Strait of Hormuz, a key energy transit route. Oil prices were also supported by equities rising after the US Supreme Court struck down Trump’s tariffs. Adding to bullish momentum, government data showed US crude inventories fell by 9 million barrels last week, marking the steepest draw since early September.

Brent rose to 71.76 USD/Bbl on February 20, 2026, up 0.14% from the previous day. Over the past month, Brent's price has risen 9.99%, but it is still 3.59% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Brent crude oil reached an all time high of 147.50 in July of 2008. Brent crude oil - data, forecasts, historical chart - was last updated on February 21 of 2026.

Brent rose to 71.76 USD/Bbl on February 20, 2026, up 0.14% from the previous day. Over the past month, Brent's price has risen 9.99%, but it is still 3.59% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Brent crude oil is expected to trade at 72.51 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 79.18 in 12 months time.



Price Day Month Year Date
Crude Oil 66.48 0.080 0.12% 9.67% -5.57% Feb/20
Brent 71.76 0.100 0.14% 9.99% -3.59% Feb/20
Natural gas 3.05 0.0510 1.70% -37.50% -26.20% Feb/20
Gasoline 1.99 -0.0183 -0.91% 7.55% -1.88% Feb/20
Heating Oil 2.58 -0.0318 -1.22% 6.27% 6.22% Feb/20
Coal 116.15 -0.65 -0.56% 5.64% 12.22% Feb/19
Ethanol 1.72 0.0175 1.03% 8.86% -5.75% Feb/20
Naphtha 564.50 4.71 0.84% 8.11% -14.27% Feb/19
Propane 0.64 0.003 0.45% 2.12% -29.77% Feb/19
Uranium 89.40 0.1000 0.11% 4.87% 38.18% Feb/20
Urals Oil 58.58 1.16 2.02% 3.04% -15.94% Feb/19


Brent crude oil
Brent Crude oil is a major benchmark price for purchases of oil worldwide. While Brent Crude oil is sourced from the North Sea the oil production coming from Europe, Africa and the Middle East flowing West tends to be priced relative to this oil. The Brent prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Actual Previous Highest Lowest Dates Unit Frequency
71.76 71.66 147.50 2.23 1970 - 2026 USD/BBL Daily

News Stream
Brent Crude Oil Heads for Strong Weekly Gain
Brent crude oil futures fluctuated around $71.5 per barrel on Friday, near a six-month high and set for a weekly gain of 5%, after US President Donald Trump said he is considering a limited military strike on Iran and warned Tehran it has 15 days at most to reach a nuclear deal. At the same time, the US is conducting its largest military buildup in the Middle East since 2003, increasing the risk of a broader conflict. Iran produces over 3 million barrels per day, about 3% of global output, mainly for China, and could threaten the Strait of Hormuz, a key energy transit route. Oil prices were also supported by equities rising after the US Supreme Court struck down Trump’s tariffs. Adding to bullish momentum, government data showed US crude inventories fell by 9 million barrels last week, marking the steepest draw since early September.
2026-02-20
Brent Heads for Strong Weekly Gain
Brent crude oil futures fluctuated at around $71 per barrel on Friday, hovering at a six-month high and heading for a weekly gain of more than 5%, after President Donald Trump set a deadline for Iran to reach a nuclear agreement. Trump signaled that negotiations would likely have no more than 10 to 15 days to advance. At the same time, the US has deployed its largest military buildup in the Middle East since the 2003 Iraq invasion, raising the prospect of a broader and more sustained operation than last June’s overnight strike on Iran’s nuclear facilities. The move has heightened the risk of supply disruptions, with investors concerned that a US-Iran conflict could prompt Iran to restrict traffic through the Strait of Hormuz, a critical corridor for crude exports from the region. Adding to bullish momentum, government data showed US crude inventories fell by 9 million barrels last week, marking the steepest draw since early September.
2026-02-20
Brent Crude Rises Past $71
Brent crude oil futures extended their rally to $71.5 per barrel on Thursday, the highest since early August 2025 as rising tensions between the US and Iran threatened supply from the Middle East. Reports citing government officials noted that the US could begin a military operation in the Middle East soon, with Israel pushing for regime change in Tehran. The head of the United Nations nuclear watchdog warned Iran's window for a diplomatic deal is narrowing amid a US military build up. Conflict could threaten flows through the Strait of Hormuz, which sees tanker activity of a third flows for one third of seaborne oil trade. In the meantime, a fresh report from the EIA showed that oil inventories in the US plummeted by 9 million barrels on the second week of February, contrasting sharply with market expectations of a 2 million barrel build to fully erase the 8.5 million build from the previous week.
2026-02-19