Brent crude futures dropped below $107 per barrel on Wednesday, declining for the second straight session after US Secretary of State Marco Rubio announced that “Operation Epic Fury is concluded,” noting that its objectives had been met. President Donald Trump also said the US would temporarily pause its effort to assist stranded vessels in exiting the Strait of Hormuz, allowing time to assess whether a potential agreement with Iran to end the conflict could be reached. However, the US blockade on ships traveling to and from Iranian ports will remain in place. Washington is now turning its attention to reopening the strait, facing mounting pressure from other nations and growing domestic opposition to the war. These developments unfold against a backdrop of continued deadlock between the US and Iran, with little headway toward renewed negotiations, as Tehran maintains that any talks hinge on the removal of the US naval blockade.

Brent fell to 105.83 USD/Bbl on May 6, 2026, down 3.68% from the previous day. Over the past month, Brent's price has fallen 3.15%, but it is still 73.15% higher 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 May 6 of 2026.

Brent fell to 105.83 USD/Bbl on May 6, 2026, down 3.68% from the previous day. Over the past month, Brent's price has fallen 3.15%, but it is still 73.15% higher 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 110.71 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 124.51 in 12 months time.



Price Day Month Year Date
Crude Oil 97.96 -4.310 -4.21% -13.27% 68.69% May/06
Brent 106.07 -3.802 -3.46% -2.93% 73.54% May/06
Natural gas 2.77 -0.0206 -0.74% -3.57% -23.57% May/06
Gasoline 3.53 -0.0862 -2.38% 6.93% 74.37% May/06
Heating Oil 3.92 -0.1068 -2.65% -12.37% 98.63% May/06
Coal 134.40 -1.15 -0.85% -2.54% 35.21% May/05
Ethanol 2.03 -0.0200 -0.98% 2.02% 16.05% May/05
Naphtha 897.56 -44.28 -4.70% -9.85% 67.01% May/05
Propane 0.89 -0.02 -2.41% 16.22% 24.78% May/05
Uranium 86.45 0 0% 1.53% 23.15% May/05
Methanol 3,206.00 17.00 0.53% 0.31% 39.39% Apr/30
Urals Oil 112.49 1.91 1.73% -7.16% 105.35% May/05


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
105.83 109.87 147.50 2.23 1970 - 2026 USD/BBL Daily

News Stream
Brent Declines as US Winds Down Iran Offensive
Brent crude futures dropped below $107 per barrel on Wednesday, declining for the second straight session after US Secretary of State Marco Rubio announced that “Operation Epic Fury is concluded,” noting that its objectives had been met. President Donald Trump also said the US would temporarily pause its effort to assist stranded vessels in exiting the Strait of Hormuz, allowing time to assess whether a potential agreement with Iran to end the conflict could be reached. However, the US blockade on ships traveling to and from Iranian ports will remain in place. Washington is now turning its attention to reopening the strait, facing mounting pressure from other nations and growing domestic opposition to the war. These developments unfold against a backdrop of continued deadlock between the US and Iran, with little headway toward renewed negotiations, as Tehran maintains that any talks hinge on the removal of the US naval blockade.
2026-05-05
Brent Crude Slips Below $112
Brent crude futures slipped below $112 per barrel on Tuesday, reversing gains from the previous session, after US Defense Secretary Pete Hegseth said the ceasefire with Iran remains in place despite this week’s attacks on the UAE. He added that the Strait of Hormuz is open, noting that two US commercial vessels transited safely with US military support, which repelled attacks from Iranian drones, missiles, and armed small boats. The developments come amid a stalemate between the US and Iran, with little progress toward renewed talks, as Tehran insists any negotiations require Washington to lift its naval blockade on Iranian ports.
2026-05-05
Brent Edges Down
Brent crude futures slipped below $112 per barrel on Tuesday, after a 4.4% gain in the previous session, as investors weighed the risk of a broader conflict against the possibility that the escalation is part of ongoing negotiations. The US and Iran exchanged fire in the Strait of Hormuz, casting doubt on the durability of a four-week ceasefire. US forces said they repelled Iranian attacks while escorting two American-flagged vessels through the key shipping route, adding they had defended commercial ships from drones and small boats. The UAE also reported intercepting Iranian missiles and confirmed a fire at its Fujairah oil terminal. The developments follow President Donald Trump’s plan to restore transit through the strait and assist stranded vessels, though shipowners remain cautious amid security risks. The renewed flare-up suggests the route may stay restricted without a US-Iran agreement, keeping markets alert to further price volatility.
2026-05-05