Actual
106.478
Daily Change
-6.95 -6.13%
Monthly
6.14%
Yearly
64.09%
Q4 Forecast
116.797
Brent oil - Summary

Brent crude prices extended their decline on Monday, falling 6% to below $107 a barrel as hopes for a diplomatic resolution to the US-Iran conflict eased concerns about further supply disruptions. According to Iran’s state-run IRNA news agency, the country’s supreme leader approved the government’s pursuit of talks aimed at ending the months-long conflict that has disrupted Middle East energy supplies. This followed reports that US President Donald Trump also wanted to give diplomacy more time before considering renewed military action, telling Israeli Prime Minister Benjamin Netanyahu that he preferred negotiations. US Secretary of State Marco Rubio reiterated that Trump favoured a peaceful resolution, while Iranian officials signalled that an agreement remained possible following two days of Qatar-mediated discussions, provided commitments were implemented in practice.

Brent oil - Stats

Brent fell to 106.65 USD/Bbl on November 2, 2026, down 5.98% from the previous day. Over the past month, Brent's price has risen 6.31%, and is up 64.35% 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 oil reached an all time high of 147.50 in July of 2008. Brent oil - data, forecasts, historical chart - was last updated on November 2 of 2026.

Brent oil - Forecast

Brent fell to 106.65 USD/Bbl on November 2, 2026, down 5.98% from the previous day. Over the past month, Brent's price has risen 6.31%, and is up 64.35% 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 oil is expected to trade at 116.80 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 134.65 in 12 months time.



Price Day Month Year Date
Crude Oil 97.44 -6.676 -6.41% 8.96% 59.61% Nov/02
Brent 106.46 -6.974 -6.15% 6.12% 64.06% Nov/02
Natural gas 2.94 0.0377 1.30% -4.25% -31.18% Nov/02
Gasoline 2.96 -0.1940 -6.15% -8.74% 54.59% Nov/02
Heating Oil 4.47 -0.2033 -4.35% -1.59% 85.96% Nov/02
Coal 152.45 2.10 1.40% 2.11% 39.54% Oct/30
Ethanol 1.79 0.0150 0.85% -11.63% 4.08% Oct/30
Naphtha 935.07 -14.60 -1.54% 12.81% 72.35% Oct/30
Propane 1.27 0.02 1.70% 40.96% 88.64% Oct/30
Uranium 92.55 0.3000 0.33% 3.47% 12.32% Oct/30
Methanol 3,717.00 102.00 2.82% -9.39% 76.66% Nov/02
Urals Oil 101.12 -1.82 -1.77% -4.20% 73.06% Oct/30


Brent 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
106.65 113.43 147.50 2.23 1970 - 2026 USD/BBL Daily

News Stream
Brent Crude Falls Further
Brent crude prices extended their decline on Monday, falling 6% to below $107 a barrel as hopes for a diplomatic resolution to the US-Iran conflict eased concerns about further supply disruptions. According to Iran’s state-run IRNA news agency, the country’s supreme leader approved the government’s pursuit of talks aimed at ending the months-long conflict that has disrupted Middle East energy supplies. This followed reports that US President Donald Trump also wanted to give diplomacy more time before considering renewed military action, telling Israeli Prime Minister Benjamin Netanyahu that he preferred negotiations. US Secretary of State Marco Rubio reiterated that Trump favoured a peaceful resolution, while Iranian officials signalled that an agreement remained possible following two days of Qatar-mediated discussions, provided commitments were implemented in practice.
2026-11-02
Brent Oil is down by 5%
Brent Oil decreased 5% to 107.764 USD/Bbl
2026-11-02
Brent Crude Falls Sharply on Monday
Brent crude fell 4.5% toward $108 a barrel on Monday as hopes for a diplomatic resolution to the conflict between the US and Iran eased concerns about further supply disruptions. Reports indicated that President Donald Trump wants to give negotiations more time before considering renewed military action, telling Israeli Prime Minister Benjamin Netanyahu that he would prefer a diplomatic solution. US Secretary of State Marco Rubio also said Trump favoured resolving the conflict peacefully. Iranian officials similarly signalled that an agreement remained possible following two days of Qatar-mediated talks, provided that commitments were implemented in practice. However, the diplomatic signals come amid continued reports that both sides are preparing for a possible escalation after the November 3 US midterm elections. Separately, OPEC+ agreed to keep its existing production targets unchanged through December as the group continues to assess global supply and demand conditions.
2026-11-02