WTI crude futures surged nearly 4% to above $100 a barrel on Tuesday, extending gains for a seventh consecutive session and reaching their highest level since early April. Traders are closely awaiting US President Trump’s response to Iran’s latest proposal to end the conflict and reopen the Strait of Hormuz. However, reports suggest Trump is dissatisfied with the offer, as Tehran’s nuclear programme remains a key sticking point in negotiations. Although a ceasefire has largely held since early April, mutual blockades by Iran and the US have reduced traffic through the Strait of Hormuz to near zero. The passage typically accounts for around 20% of global energy flows, amplifying concerns over supply disruptions. Now in its ninth week, the conflict has driven energy prices sharply higher and strained supply across major markets. The International Energy Agency has warned of a potential unprecedented supply shock, alongside growing risks of a slowdown in global demand.

Crude Oil rose to 101.29 USD/Bbl on April 28, 2026, up 5.10% from the previous day. Over the past month, Crude Oil's price has fallen 1.55%, but it is still 67.64% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Crude Oil reached an all time high of 410.45 in December of 2025. Crude Oil - data, forecasts, historical chart - was last updated on April 28 of 2026.

Crude Oil rose to 101.29 USD/Bbl on April 28, 2026, up 5.10% from the previous day. Over the past month, Crude Oil's price has fallen 1.55%, but it is still 67.64% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil is expected to trade at 97.19 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 110.56 in 12 months time.



Price Day Month Year Date
Crude Oil 100.52 4.155 4.31% -2.29% 66.38% Apr/28
Brent 111.85 3.622 3.35% 4.15% 76.76% Apr/28
Natural gas 2.71 -0.0191 -0.70% -6.13% -19.97% Apr/28
Gasoline 3.55 0.0554 1.59% 8.79% 72.84% Apr/28
Heating Oil 3.97 -0.0006 -0.02% -5.51% 92.76% Apr/28
Coal 132.25 2.05 1.57% -8.32% 38.34% Apr/27
Ethanol 2.01 0.0475 2.42% -1.23% 11.20% Apr/27
Urals Oil 106.81 0.82 0.77% -7.91% 81.46% Apr/27



Related Last Previous Unit Reference
United States API Crude Oil Stock Change -4.40 6.10 BBL/1Million Apr 2026
Saudi Arabia Crude Oil Production 7763.00 10111.00 BBL/D/1K Mar 2026
United States Crude Oil Production 13246.00 13656.00 BBL/D/1K Jan 2026
Russia Crude Oil Production 9977.00 10056.00 BBL/D/1K Dec 2025
United States Crude Oil Stocks Change 1.93 -0.91 BBL/1Million Apr 2026
United States Weekly Crude Oil Production 13585.00 13596.00 Thousand Barrels Per Day Apr 2026

Crude Oil
Crude oil is one of the most widely followed commodities in the world due to its central role in the global economy. It is a key source of energy, a critical input for transportation and manufacturing, and a major driver of inflation and geopolitical dynamics. As a result, movements in oil prices are closely monitored by governments, businesses, and investors alike. West Texas Intermediate (WTI) crude oil is classified as light and sweet, where “light” refers to its low density and “sweet” indicates its low sulfur content. The delivery point for WTI crude oil futures is the Cushing Hub in Oklahoma, and each futures contract represents 1,000 barrels of crude oil. Crude oil 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 WTI crude oil prices. Official pricing and settlement data for WTI crude oil futures should be obtained directly from NYMEX. 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
101.29 96.37 410.45 -40.32 1983 - 2026 USD/BBL Daily

News Stream
US Crude Oil Futures Top $100
WTI crude futures surged nearly 4% to above $100 a barrel on Tuesday, extending gains for a seventh consecutive session and reaching their highest level since early April. Traders are closely awaiting US President Trump’s response to Iran’s latest proposal to end the conflict and reopen the Strait of Hormuz. However, reports suggest Trump is dissatisfied with the offer, as Tehran’s nuclear programme remains a key sticking point in negotiations. Although a ceasefire has largely held since early April, mutual blockades by Iran and the US have reduced traffic through the Strait of Hormuz to near zero. The passage typically accounts for around 20% of global energy flows, amplifying concerns over supply disruptions. Now in its ninth week, the conflict has driven energy prices sharply higher and strained supply across major markets. The International Energy Agency has warned of a potential unprecedented supply shock, alongside growing risks of a slowdown in global demand.
2026-04-28
WTI Rallies on US–Iran Uncertainty
WTI crude futures climbed above $98 per barrel on Tuesday, hitting a two-week high as stalled efforts to end the US–Iran conflict and reopen the Strait of Hormuz kept markets on edge. US President Donald Trump was reportedly dissatisfied with Iran’s latest proposal, with Tehran’s nuclear program remaining a central point of contention in negotiations. Iran conveyed through Pakistan that hostilities could cease if Washington lifted its naval blockade, agreed to a revised framework for transit through Hormuz, and provided assurances against future military action. Now in its ninth week, the conflict has pushed energy prices higher and disrupted supply across key markets, while the International Energy Agency has warned of an unprecedented supply shock alongside rising risks of a demand slowdown. Flows through the Strait of Hormuz, typically accounting for roughly 20% of global energy consumption, remain effectively halted, sustaining upward pressure on prices.
2026-04-28
Oil Rises as US Reviews Iran Proposal
WTI crude futures rose above $97 per barrel on Tuesday, extending gains from the previous session as markets assessed the likelihood of a lasting ceasefire and the potential reopening of the Strait of Hormuz after Iran submitted a fresh proposal to the US. Tehran reportedly signaled via Pakistan that hostilities could cease if Washington lifted its naval blockade, agreed to a revised framework governing transit through Hormuz, and provided assurances against future military action. The US has expressed skepticism toward the proposal and is expected to respond with counteroffers in the coming days, with Iran’s nuclear program continuing to be a key point of contention. Now in its ninth week, the conflict has driven energy prices higher and disrupted supply in major markets, while the International Energy Agency has cautioned about an unprecedented supply shock alongside mounting risks of a demand slowdown.
2026-04-27