Brent crude futures traded choppily on Friday, dipping earlier on easing Middle East risk before rebounding over 0.5% to trade close to $68 a barrel, though prices remained on track for a first weekly decline in seven weeks. US Iran nuclear talks in Oman, which Iranian officials described as a good start with plans to continue negotiations, reduced fears of near term supply disruptions from a region that accounts for roughly one third of global crude output. Earlier gains reflected lingering caution as the US pushed to broaden talks beyond nuclear issues, while prior evacuation advisories had heightened sensitivity to escalation risk. That premium faded as diplomatic signals improved, reinforcing expectations of oversupply later this year. Adding to pressure, Saudi Arabia cut official selling prices for its main crude grade to Asia to the lowest since late 2020, highlighting ample supply, though the smaller than expected reduction suggested confidence in demand.

Brent rose to 68.05 USD/Bbl on February 6, 2026, up 0.74% from the previous day. Over the past month, Brent's price has risen 13.49%, but it is still 8.85% 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 7 of 2026.

Brent rose to 68.05 USD/Bbl on February 6, 2026, up 0.74% from the previous day. Over the past month, Brent's price has risen 13.49%, but it is still 8.85% 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 69.01 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 74.97 in 12 months time.



Price Day Month Year Date
Crude Oil 63.55 0.260 0.41% 13.50% -10.49% Feb/06
Brent 68.05 0.500 0.74% 13.49% -8.85% Feb/06
Natural gas 3.42 -0.0870 -2.48% -2.92% 3.41% Feb/06
Gasoline 1.95 0.0327 1.70% 14.71% -7.37% Feb/06
Heating Oil 2.41 0.0162 0.68% 17.15% -1.09% Feb/06
Coal 116.00 -0.10 -0.09% 8.16% 6.47% Feb/05
Ethanol 1.64 0.0100 0.62% 2.51% -6.84% Feb/06
Naphtha 547.47 -15.34 -2.72% 11.78% -15.04% Feb/05
Propane 0.65 0.001 0.13% 4.61% -29.27% Feb/06
Uranium 85.25 -0.4500 -0.53% 4.22% 22.40% Feb/06
Methanol 2,220.00 20.00 0.91% -0.67% -15.69% Feb/06
Urals Oil 54.63 -1.06 -1.90% 6.14% -20.04% Feb/05


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
68.05 67.55 147.50 2.23 1970 - 2026 USD/BBL Daily

News Stream
Brent Crude Rebounds on Choppy Session
Brent crude futures traded choppily on Friday, dipping earlier on easing Middle East risk before rebounding over 0.5% to trade close to $68 a barrel, though prices remained on track for a first weekly decline in seven weeks. US Iran nuclear talks in Oman, which Iranian officials described as a good start with plans to continue negotiations, reduced fears of near term supply disruptions from a region that accounts for roughly one third of global crude output. Earlier gains reflected lingering caution as the US pushed to broaden talks beyond nuclear issues, while prior evacuation advisories had heightened sensitivity to escalation risk. That premium faded as diplomatic signals improved, reinforcing expectations of oversupply later this year. Adding to pressure, Saudi Arabia cut official selling prices for its main crude grade to Asia to the lowest since late 2020, highlighting ample supply, though the smaller than expected reduction suggested confidence in demand.
2026-02-06
Brent Crude Futures Cut Gains
Brent crude futures pared early gains to trade around the flatline near $67.5 a barrel on Friday and were on track for their first weekly decline in seven weeks, as concerns over potential supply disruptions in the Middle East eased. At the same time, investors remained cautious ahead of the outcome of US–Iran nuclear talks. The US is pushing for a broader discussion that includes Iran’s ballistic missile program and regional activities, while Iran insists the talks focus solely on nuclear issues and sanctions relief. Adding to concerns, the US Virtual Embassy in Iran has also urged American citizens to leave immediately. Similar alerts were issued last month, which rattled energy markets over potential supply disruptions Meanwhile, Saudi Arabia cut prices for its main crude grade sold to Asia to the lowest level since late 2020, signaling oversupply, though the smaller-than-expected reduction suggested confidence in demand.
2026-02-06
Brent Reverses Early Losses
Brent crude oil futures rose over 1% to above $68 per barrel on Friday, reversing earlier losses, as disagreements over the agenda in US–Iran high-stakes talks made progress uncertain. The US is pushing for a broader discussion that includes Iran’s ballistic missile program and regional activities, while Iran insists the talks focus solely on nuclear issues and sanctions relief. Adding to concerns, the US Virtual Embassy in Iran has also urged American citizens to leave immediately. Similar alerts were issued last month, including one when President Trump considered possible military options in Iran, which rattled energy markets over potential supply disruptions from the OPEC producer. Meanwhile, Saudi Arabia cut prices for its main crude grade sold to Asia to the lowest level since late 2020, signaling oversupply, though the smaller-than-expected reduction suggested confidence in demand. Still, oil is heading for its first weekly decline in six weeks.
2026-02-06