Oil prices

Extracted Attributes

• Definition

  The spot price of a barrel (159 litres) of benchmark crude oil.

• Major Benchmarks

  West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil.

• Primary Price Drivers

  Global supply and demand dynamics.

• Critical Transit Point

  Strait of Hormuz (handles approximately 20 million barrels per day).

• Crude Oil Price (2026-03-08)

  94.00 USD/Bbl

• WTI Crude Price (2026-03-06)

  Above 90.00 USD/Bbl

• Brent Crude Price (2026-03-06)

  92.69 USD/Bbl

Timeline

• Brent crude oil reaches a historical high of 147.50 USD/Bbl. (Source: Web Search Results)

  2008-07-01

• Crude oil reaches a historical high of 410.45 USD/Bbl. (Source: Web Search Results)

  2025-12-01

• Brent crude rises to 92.69 USD/Bbl and WTI surges over 11% to above $90 due to Middle East conflict. (Source: Web Search Results)

  2026-03-06

• Crude oil price reaches 94 USD/Bbl. (Source: Web Search Results)

  2026-03-08

Price of oil

The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil, Isthmus, and Western Canadian Select (WCS). Oil prices are determined by global supply and demand, rather than any country's domestic production level.

Web Search Results

• Crude Oil Price Today | Brent OIL PRICE CHART - Markets Insider

  ## Oil Price (Brent Crude and WTI) The price of oil is the most important value on international commodity markets since crude oil is the most important commodity. Emerging industrial markets such as China, India and Latin America greatly influence the price of oil, since they require more and more oil to support their economic growth and resulting rise in energy consumption. The supply of crude oil is limited, however, and cannot be increased further, since it has become increasingly difficult to find and develop new oil reserves in recent years. As a result, the price of oil has a strong influence on international economic development, since it is urgently needed in all industrialized countries when supplies are limited. (read more) [...] Besides its primary role as the most important energy source, crude oil is also an essential raw material for manufacturing plastics. Crude oil is also used in cosmetics and medicines. Because the supply of crude oil is limited but demand is constantly growing, the price of oil is also continuously rising. Because crude oil is needed to manufacture other primary materials, it is the world’s most important commodity. The US investment bank Goldman Sachs estimates the proportion of crude oil used for primary materials production to be 45 percent. [...] Crude oil is by far the world’s most important energy source and the price of oil therefore plays an important role in industrial and economic development. There are different types of crude oil. The most important type of crude oil used in Europe is Brent Crude, named after the North Sea oilfield where it is extracted. Brent Crude is a particularly light crude oil which is carried from the North Sea to the Sullom Voe Terminal on Mainland, Shetland by an underwater pipeline. From there, the crude oil is transported by tanker.

• Brent crude oil - Price - Chart - Historical Data - News

  Brent rose to 92.69 USD/Bbl on March 6, 2026, up 8.52% from the previous day. Over the past month, Brent's price has risen 34.26%, and is up 31.74% 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 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 March 8 of 2026. [...] Brent crude surged more than 7% to around $91 a barrel, the highest since April 2024, as the escalating Middle East conflict severely disrupted global oil supplies. Shipping through the Strait of Hormuz, a key route that normally carries about 20 million barrels of oil per day, has nearly stopped du...e to security threats, insurance issues, and operational uncertainty. This has effectively choked off exports from major Gulf producers and forced some countries to shut in output. Analysts estimate that 7–11 million barrels per day may be temporarily missing from the market. The supply shock has pushed oil prices up more than 20% this week, despite signals from Donald Trump that the US may take action to ease prices and a temporary waiver allowing India to buy some stranded Russian crude. [...] Brent crude oil futures climbed above $87 per barrel on Friday and were on track for their biggest weekly jump since 2022 as the escalating Middle East conflict severely disrupted global energy flows. The crisis has almost halted shipping through the Strait of Hormuz, a crucial route that normally h...andles about 20 million barrels of oil and petroleum products per day. Commercial traffic through the strait has nearly stopped due to security risks, insurance issues and operational uncertainty. Some producers have started shutting in output, tightening markets further. Meanwhile, tensions remain high after Abbas Araghchi said Iran was not seeking negotiations. The US signaled possible actions to ease pressure, including the potential release of oil from strategic reserves, while also

• Crude Oil Prices Today | OilPrice.com

  Click Here for 150+ Global Oil Prices | | | | | --- --- | | Marine •566 days | 75.08 | -2.22 | -2.87% | | Murban •566 days | 76.34 | -1.97 | -2.52% | | Iran Heavy •252 days | 64.96 | -0.76 | -1.16% | | Basra Light •1560 days | 71.69 | -3.60 | -4.78% | | Saharan Blend •252 days | 68.65 | -0.72 | -1.04% | | Bonny Light •566 days | 78.62 | -2.30 | -2.84% | | Click Here for 150+ Global Oil Prices | | | | | | --- --- | | Bonny Light • 566 days | 78.62 | -2.30 | -2.84% | | Girassol • 566 days | 79.56 | -1.80 | -2.21% | | Opec Basket • 4 days | 90.10 | +7.23 | +8.72% | Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices [...] 2 days Oil Prices Have Climbed 21% This Week 3 days Ecopetrol Eyes Oil Output Boost As Iran Crisis Pushes Up Prices 3 days Drone Strike Hits Bahrain Refinery as Crack Spreads Surge 3 days Shell Signs Oil and Gas Exploration Deal in Kazakhstan 3 days Japanese Refiners Urge Government to Release Strategic Oil Reserves 3 days Oil Tanker Hit By Blast Near Kuwait, Major Leak Reported 3 days LNG Shipping Rates Soar 650% to $300,000 Per Day 3 days Asia’s Refining Margins Soar to 4-Year High as Hormuz Chokes Crude Supply 3 days Dozens of Asia-Flagged Oil Tankers Stranded near Strait of Hormuz 3 days Asian LNG Prices Fall on U.S. Plan to Secure Hormuz Strait 3 days Two Russian Urals Tankers Divert 1.4 Million Barrels to Indian Ports 3 days Exxon Ships U.S. Gasoline to Australia [...] Home Oil Prices Oil Futures Rig Count Energy + Energy-General + Oil Prices + Crude Oil + Heating Oil + Gas Prices + Natural Gas + Coal + Company News + Interviews + Geopolitics Alternative Energy + Nuclear Power + Solar Energy + Hydroelectric + Renewable Energy + Geothermal Energy + Wind Power + Fuel Cells + Tidal Energy + Biofuels + Environment + Global Warming + Oil Spills Company News Breaking News Premium Articles My Account Get Exclusive Intel All Prices OPEC Blends Canadian Blends U.S. Blends

• Oil Price Charts | Oilprice.com

  | Futures & Indexes | Last | Change | % Change | Last Updated | --- --- | WTI Crude | 90.90 | +9.89 | +12.21%(1 day Delay) | (1 day Delay) | | Brent Crude | 92.69 | +7.28 | +8.52%(1 day Delay) | (1 day Delay) | | Murban Crude | 103.24 | +8.73 | +9.24%(16 Minutes Delay) | (16 Minutes Delay) | | Natural Gas | 3.186 | +0.183 | +6.09%(1 day Delay) | (1 day Delay) | | Gasoline | 2.747 | +0.076 | +2.83%(1 day Delay) | (1 day Delay) | | Heating Oil | 3.622 | +0.008 | +0.22%(1 day Delay) | (1 day Delay) | | WTI Midland | 92.65 | +9.42 | +11.32%(1 day Delay) | (1 day Delay) | | Mars | 90.83 | +2.20 | +2.48% | | Opec Basket | 90.10 | +7.23 | +8.72%(3 days Delay) | (3 days Delay) | | DME Oman | 95.84 | +12.21 | +14.60%(3 days Delay) | (3 days Delay) | [...] | Mexican Basket | 75.24 | +4.86 | +6.91%(3 days Delay) | (3 days Delay) | | Indian Basket | 93.41 | +8.17 | +9.58%(3 days Delay) | (3 days Delay) | | Urals | 71.97 | +1.66 | +2.36%(3 days Delay) | (3 days Delay) | | Western Canadian Select | 68.66 | +6.35 | +10.19%(2 days Delay) | (2 days Delay) | | AECO C natural gas | 1.180 | -0.130 | -9.92%(1 week Delay) | (1 week Delay) | | Dubai | 79.39 | +5.65 | +7.67%(3 days Delay) | (3 days Delay) | | Brent Weighted Average | 83.99 | +1.81 | +2.20%(3 days Delay) | (3 days Delay) | | Louisiana Light | 84.88 | +6.30 | +8.02%(3 days Delay) | (3 days Delay) | | Domestic Swt. @ Cushing | 77.49 | +6.35 | +8.93%(3 days Delay) | (3 days Delay) | | Giddings | 71.24 | +6.35 | +9.79%(3 days Delay) | (3 days Delay) | [...] | ANS West Coast | 78.95 | +0.25 | +0.32%(4 days Delay) | (4 days Delay) | | Gulf Coast HSFO | 73.45 | +5.60 | +8.25%(3 days Delay) | (3 days Delay) | | Ethanol | 1.910 | +0.045 | +2.41%(1 day Delay) | (1 day Delay) | | Dutch TTF Natural Gas | 16.65 | +0.60 | +3.76%(3 days Delay) | (3 days Delay) | | LNG Japan/Korea Marker | 19.40 | +0.25 | +1.31%(3 days Delay) | (3 days Delay) |

• Crude Oil - Price - Chart - Historical Data - News - Trading Economics

  WTI crude oil futures surged over 11% to above $90 per barrel on Friday, the highest since August 2022, as intensifying tensions in the Middle East are disrupting global energy trade. On Friday, President Donald Trump urged Iran to accept unconditional surrender, amplifying fears that a drawn-out co...nflict could significantly impact worldwide oil supply. Earlier in the day, Qatar’s Energy Minister Saad al-Kaabi told the Financial Times that Gulf exporters would halt production within days if tankers are unable to pass through the Strait of Hormuz. The strait is a crucial route that normally handles about 20 million barrels of oil and petroleum products per day. The US signaled possible actions to ease pressure, including the potential release of oil from strategic reserves, while also [...] WTI crude oil futures climbed more than 10% to $89 per barrel on Friday and were on track for their biggest weekly jump since 2022 as the escalating Middle East conflict severely disrupted global energy flows. Qatar’s Energy Minister Saad al-Kaabi told the Financial Times that Gulf exporters would h...alt production within days if tankers are unable to pass through the Strait of Hormuz. The strait is a crucial route that normally handles about 20 million barrels of oil and petroleum products per day. Meanwhile, tensions remain high after Abbas Araghchi said Iran was not seeking negotiations. The US signaled possible actions to ease pressure, including the potential release of oil from strategic reserves, while also temporarily allowing India to purchase some Russian crude already at sea. [...] Crude Oil Price - Chart - Historical Data - News Summary Stats Forecast Alerts Export Image 1: CSV download buttonDownload Data Image 2: Excel download buttonExcel Add-in Image 3: API download buttonAPI Access Crude Oil rose to 94 USD/Bbl on March 8, 2026, up 3.41% from the previous day. Over the past month, Crude Oil's price has risen 46.06%, and is up 42.36% 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, Crude Oil reached an all time high of 410.45 in December of 2025. Crude Oil - data, forecasts, historical chart - was last updated on March 8 of 2026.