Actual
89.800
Daily Change
0.89 1.00%
Monthly
7.80%
Yearly
36.83%
Q3 Forecast
89.485
Brent crude oil - Summary

Brent strengthened above $89 per barrel on Wednesday, rising for the sixth consecutive sessions as investors assessed mixed signals surrounding a potential deal between the US and Iran. Pakistan’s defense minister said Washington and Tehran are “close to some sort of arrangement” regarding the Strait of Hormuz, while reports indicated that talks between Iran and Oman have entered an advanced stage. However, the positive developments followed a tougher stance from President Donald Trump this week, who said Tehran should pay reparations for those killed in attacks linked to the Islamic Republic. His remarks came in response to a series of demands issued by Iran over the weekend, including war compensation for the US and Israeli military operation in the country. Meanwhile, industry data showed US crude inventories rose by 9.1 million barrels last week, marking their largest increase since February.

Brent crude oil - Stats

Brent rose to 89.79 USD/Bbl on August 12, 2026, up 0.99% from the previous day. Over the past month, Brent's price has risen 7.79%, and is up 36.81% 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 August 12 of 2026.

Brent crude oil - Forecast

Brent rose to 89.79 USD/Bbl on August 12, 2026, up 0.99% from the previous day. Over the past month, Brent's price has risen 7.79%, and is up 36.81% compared to the same time last year, 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 89.49 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 103.02 in 12 months time.



Price Day Month Year Date
Crude Oil 83.92 0.720 0.86% 7.40% 33.95% Aug/12
Brent 89.80 0.890 1.00% 7.80% 36.83% Aug/12
Natural gas 2.79 0.0199 0.72% -3.80% -1.45% Aug/12
Gasoline 3.16 0.0274 0.87% -0.07% 52.32% Aug/12
Heating Oil 4.28 0.0285 0.67% 11.96% 90.88% Aug/12
Coal 129.30 0.30 0.23% 0.47% 15.76% Aug/11
Ethanol 1.95 -0.0175 -0.89% -0.64% 13.19% Aug/11
Naphtha 743.18 -4.06 -0.54% 5.41% 34.73% Aug/11
Propane 0.70 0 0% -7.12% 3.97% Aug/11
Uranium 86.90 0.1000 0.12% 1.52% 20.19% Aug/11
Methanol 2,624.00 96.00 3.80% 4.75% 9.74% Aug/11
Urals Oil 84.31 2.44 2.98% 36.53% 34.21% Aug/11


Brent crude 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
89.79 88.91 147.50 2.23 1970 - 2026 USD/BBL Daily

News Stream
Brent Extends Gains as US-Iran Deal Eyed
Brent strengthened above $89 per barrel on Wednesday, rising for the sixth consecutive sessions as investors assessed mixed signals surrounding a potential deal between the US and Iran. Pakistan’s defense minister said Washington and Tehran are “close to some sort of arrangement” regarding the Strait of Hormuz, while reports indicated that talks between Iran and Oman have entered an advanced stage. However, the positive developments followed a tougher stance from President Donald Trump this week, who said Tehran should pay reparations for those killed in attacks linked to the Islamic Republic. His remarks came in response to a series of demands issued by Iran over the weekend, including war compensation for the US and Israeli military operation in the country. Meanwhile, industry data showed US crude inventories rose by 9.1 million barrels last week, marking their largest increase since February.
2026-08-11
Brent Back Above $88
Brent prices remained volatile on Tuesday, swinging between gains and losses to trade above $88 a barrel as traders weighed conflicting signals over developments in the Middle East. Prices initially came under pressure after Pakistan’s Defense Minister Khawaja Asif said recent developments suggested the US and Iran were “close to some sort of arrangement,” with conditions appearing to move in favor of peace. Reports that talks between Iran and Oman on reopening the Strait of Hormuz to some maritime shipping had reached an advanced stage also fueled optimism. However, the gains were tempered by uncertainty over whether the strategic waterway will actually reopen. A senior Iranian official said the Strait of Hormuz would remain closed until Tehran’s conditions are met by Washington. On Monday, US President Trump adopted a tougher stance toward Tehran, demanding reparations from Iran for deaths linked to attacks and domestic unrest.
2026-08-11
Brent Eases on Iran Deal Hopes
Brent crude oil fell toward $87 per barrel on Tuesday, before recovering to $88.7 per barrel, after Pakistan signaled that the US and Iran could be close to an arrangement aimed at easing tensions and potentially reopening the Strait of Hormuz. Pakistan’s Defense Minister Khawaja Asif said recent developments suggested the sides were “close to some sort of arrangement” and that conditions were moving in favor of peace. Separately, talks between Iran and Oman over restoring maritime traffic through the strategic waterway were reportedly at an advanced stage, according to a Qatari Foreign Ministry spokesperson cited by Al Jazeera. The comments prompted oil prices to reverse earlier gains, highlighting the market’s sensitivity to conflicting signals over the negotiations. Prices had risen sharply after US President Donald Trump adopted a tougher stance toward Tehran, demanding reparations from Iran for deaths linked to attacks and domestic unrest.
2026-08-11