Brent crude oil fell over 4% toward $89 per barrel on Thursday, the lowest since March, after President Trump suspended planned attacks against Iran scheduled for this evening, while also suggesting that Washington and Tehran were close to reaching an agreement to end the war. He later told reporters that a deal, including the reopening of the Strait of Hormuz, could be signed as early as this weekend, likely in Europe. Meanwhile, Iran's semi-official Fars news agency reported that Tehran was likely to approve the agreement, though it has yet to give a formal response. So far, oil facilities have largely been spared, which has helped prevent the kind of supply shock many traders had feared and kept prices well below earlier conflict peaks. On the demand side, Chinese imports from Saudi Arabia are expected to fall in July, while tanker traffic through the Strait of Hormuz has increased.

Brent fell to 89.11 USD/Bbl on June 11, 2026, down 4.28% from the previous day. Over the past month, Brent's price has fallen 17.31%, but it is still 28.48% 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 June 11 of 2026.

Brent fell to 89.11 USD/Bbl on June 11, 2026, down 4.28% from the previous day. Over the past month, Brent's price has fallen 17.31%, but it is still 28.48% 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 94.04 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 108.15 in 12 months time.



Price Day Month Year Date
Crude Oil 86.42 -3.610 -4.01% -15.42% 27.01% Jun/11
Brent 89.09 -4.010 -4.31% -17.33% 28.45% Jun/11
Natural gas 3.08 -0.1005 -3.16% 8.49% -11.67% Jun/11
Gasoline 3.06 -0.0491 -1.58% -17.22% 41.13% Jun/11
Heating Oil 3.46 -0.1465 -4.06% -16.71% 56.06% Jun/11
Coal 150.95 0.75 0.50% 15.36% 44.52% Jun/10
Ethanol 1.88 -0.0200 -1.06% -2.85% 13.64% Jun/11
Naphtha 739.31 11.30 1.55% -15.34% 32.42% Jun/10
Propane 0.79 0.01 0.69% -9.71% 4.20% Jun/10
Uranium 85.05 -0.2500 -0.29% -1.28% 21.41% Jun/10
Methanol 3,150.00 -73.00 -2.27% 1.65% 36.60% Jun/11
Urals Oil 83.05 -4.70 -5.36% -15.13% 31.41% Jun/09


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
89.11 93.10 147.50 2.23 1970 - 2026 USD/BBL Daily

News Stream
Brent Drops Toward $89
Brent crude oil fell over 4% toward $89 per barrel on Thursday, the lowest since March, after President Trump suspended planned attacks against Iran scheduled for this evening, while also suggesting that Washington and Tehran were close to reaching an agreement to end the war. He later told reporters that a deal, including the reopening of the Strait of Hormuz, could be signed as early as this weekend, likely in Europe. Meanwhile, Iran's semi-official Fars news agency reported that Tehran was likely to approve the agreement, though it has yet to give a formal response. So far, oil facilities have largely been spared, which has helped prevent the kind of supply shock many traders had feared and kept prices well below earlier conflict peaks. On the demand side, Chinese imports from Saudi Arabia are expected to fall in July, while tanker traffic through the Strait of Hormuz has increased.
2026-06-11
Brent Holds Below $93
Brent oil prices moved between gains and losses below $93 per barrel on Thursday as traders balanced geopolitical risks with still-functioning global supply flows. President Donald Trump warned of possible further US attacks on Iranian energy infrastructure, including the Kharg Island export terminal, while also signaling reduced appetite for a major escalation. At the same time, the UAE and Iran held rare direct talks, raising hopes for diplomatic de-escalation in the region. So far, oil facilities have largely been spared, which has helped prevent the kind of supply shock many traders had feared and kept prices well below earlier conflict peaks. On the demand side, Chinese imports from Saudi Arabia are expected to fall in July, while tanker traffic through the Strait of Hormuz has increased. However, inventories are tightening in key regions, with US crude stocks including strategic reserves down sharply over recent weeks and Singapore fuel inventories at their lowest since 2013.
2026-06-11
Brent Turns Positive
Brent oil climbed to $93.5 per barrel on Thursday after declining earlier in the session, following comments from US President Donald Trump that the US would strike Iran hard tonight. Trump also said that the US would soon take control of Iran’s “oil infrastructure points,” with a broader operation to assume control of the country’s oil and gas markets and infrastructure, including Kharg Island, expected “in the not too distant future.” Meanwhile, new data indicated that global oil inventories are showing signs of tightening. In the US, crude stockpiles, including strategic reserves, fell by 15 million barrels last week and have declined by more than 70 million barrels over the past five weeks, marking the largest drawdown since the 1980s. Fuel inventories in Singapore have also fallen to their lowest level since 2013. However, Chinese buyers are expected to purchase significantly less Saudi crude in July, as imports have already dropped to their lowest level in eight years.
2026-06-11