Actual
88.826
Daily Change
-0.08 -0.09%
Monthly
6.63%
Yearly
35.34%
Q3 Forecast
91.614
Brent crude oil - Summary

Brent crude oil remained volatile on Wednesday, fluctuating around $89 per barrel, as investors weighed conflicting signals surrounding a potential agreement between the US and Iran. President Donald Trump said the US had “total control over the Strait of Hormuz” as negotiations over the key waterway remain deadlocked. The increasingly confrontational rhetoric raised further doubts about the prospects of an immediate agreement to reopen the critical shipping route. Meanwhile, 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 reached an advanced stage. Elsewhere, EIA data showed US crude inventories increased by 17.4 million barrels last week, marking their biggest weekly rise since early 2023.

Brent crude oil - Stats

Brent fell to 88.86 USD/Bbl on August 12, 2026, down 0.06% from the previous day. Over the past month, Brent's price has risen 6.67%, and is up 35.39% 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 fell to 88.86 USD/Bbl on August 12, 2026, down 0.06% from the previous day. Over the past month, Brent's price has risen 6.67%, and is up 35.39% 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 91.61 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 105.52 in 12 months time.



Price Day Month Year Date
Crude Oil 83.23 0.026 0.03% 6.51% 32.84% Aug/12
Brent 88.83 -0.084 -0.09% 6.63% 35.34% Aug/12
Natural gas 2.79 0.0278 1.00% -3.53% -1.17% Aug/12
Gasoline 3.15 0.0127 0.40% -0.54% 51.61% Aug/12
Heating Oil 4.30 0.0445 1.05% 12.38% 91.59% 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 2,565.00 -59.00 -2.25% 2.40% 8.00% Aug/12
Urals Oil 84.31 2.44 2.98% 36.53% 34.85% 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
88.86 88.91 147.50 2.23 1970 - 2026 USD/BBL Daily

News Stream
Brent Crude Oil Hold Near $89
Brent crude oil remained volatile on Wednesday, fluctuating around $89 per barrel, as investors weighed conflicting signals surrounding a potential agreement between the US and Iran. President Donald Trump said the US had “total control over the Strait of Hormuz” as negotiations over the key waterway remain deadlocked. The increasingly confrontational rhetoric raised further doubts about the prospects of an immediate agreement to reopen the critical shipping route. Meanwhile, 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 reached an advanced stage. Elsewhere, EIA data showed US crude inventories increased by 17.4 million barrels last week, marking their biggest weekly rise since early 2023.
2026-08-12
Brent Extends Gains on Hormuz Uncertainty
Brent crude strengthened above $89 per barrel on Wednesday, advancing for a sixth straight session as investors weighed conflicting signals surrounding a potential agreement between the US and Iran. President Donald Trump said the US had “total control over the Strait of Hormuz” as negotiations over the key waterway remain deadlocked. The increasingly confrontational rhetoric raised further doubts about the prospects of an immediate agreement to reopen the critical shipping route. Meanwhile, 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 reached an advanced stage. Elsewhere, industry data showed US crude inventories increased by 9.1 million barrels last week, marking their biggest weekly rise since February.
2026-08-12
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