Actual
116.520
Daily Change
3.35 2.96%
Monthly
9.31%
Yearly
78.71%
Q4 Forecast
113.861
Brent oil - Summary

Brent crude rose to $116 a barrel on Friday, reaching its highest level since June 2022 and surpassing the peak recorded at the start of the war, as expectations grew that the US could resume strikes against Iran in the coming weeks. Prices have gained around 5% this week, marking a third consecutive weekly advance. Iran’s army chief said the country’s military was prepared for asymmetric warfare after strengthening its capabilities. Meanwhile, President Donald Trump said Washington was not negotiating with Tehran and suggested that developments could occur soon. US and Israeli officials have reportedly drawn up plans for renewed strikes after the US midterm elections. Regional tensions have also intensified as Iran-aligned Houthi militants continue attacks on Saudi Arabia. The US State Department ordered non-essential personnel to leave the country. Saudi Aramco has also reportedly instructed staff to evacuate its Dhahran headquarters and work remotely.

Brent oil - Stats

Brent rose to 116.27 USD/Bbl on October 23, 2026, up 2.74% from the previous day. Over the past month, Brent's price has risen 9.07%, and is up 78.32% 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 October 23 of 2026.

Brent oil - Forecast

Brent rose to 116.27 USD/Bbl on October 23, 2026, up 2.74% from the previous day. Over the past month, Brent's price has risen 9.07%, and is up 78.32% 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 113.86 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 130.36 in 12 months time.



Price Day Month Year Date
Crude Oil 103.09 3.616 3.64% 8.96% 67.62% Oct/23
Brent 116.52 3.350 2.96% 9.31% 78.71% Oct/23
Natural gas 2.65 -0.1440 -5.15% -21.31% -33.62% Oct/23
Gasoline 3.22 0.0410 1.29% -9.74% 67.84% Oct/23
Heating Oil 4.98 0.0451 0.91% 5.22% 107.12% Oct/23
Coal 151.15 0.60 0.40% 4.46% 45.06% Oct/22
Ethanol 1.84 -0.0800 -4.18% -13.24% 9.23% Oct/22
Naphtha 916.21 34.26 3.88% 9.91% 73.77% Oct/22
Propane 1.16 0.03 2.93% 30.18% 76.78% Oct/23
Uranium 90.05 -0.1000 -0.11% 0.56% 17.71% Oct/22
Methanol 3,518.00 -27.00 -0.76% 0.14% 57.76% Oct/23
Urals Oil 106.24 4.68 4.61% -3.15% 79.04% Oct/22


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
116.27 113.17 147.50 2.23 1970 - 2026 USD/BBL Daily

News Stream
Brent Hits Highest Level Since 2022 as War Risks Escalate
Brent crude rose to $116 a barrel on Friday, reaching its highest level since June 2022 and surpassing the peak recorded at the start of the war, as expectations grew that the US could resume strikes against Iran in the coming weeks. Prices have gained around 5% this week, marking a third consecutive weekly advance. Iran’s army chief said the country’s military was prepared for asymmetric warfare after strengthening its capabilities. Meanwhile, President Donald Trump said Washington was not negotiating with Tehran and suggested that developments could occur soon. US and Israeli officials have reportedly drawn up plans for renewed strikes after the US midterm elections. Regional tensions have also intensified as Iran-aligned Houthi militants continue attacks on Saudi Arabia. The US State Department ordered non-essential personnel to leave the country. Saudi Aramco has also reportedly instructed staff to evacuate its Dhahran headquarters and work remotely.
2026-10-23
Brent Hits 4-year High
Brent increased to 115.44 USD/Bbl, the highest since June 2022. Over the past 4 weeks, Brent Oil gained 8.24%, and in the last 12 months, it increased 76.97%.
2026-10-23
Brent Extends Gains on Middle East Risks
Brent crude climbed toward $115 per barrel on Friday, the highest since the four-year high of $115.25 reached on May 4, as escalating Houthi attacks on Saudi targets and reports of possible renewed US strikes against Iran raised supply risks in the Middle East. Iran-backed Houthi militants in Yemen claimed responsibility for recent attacks on Saudi Arabia’s Red Sea port of Yanbu, along with deadly strikes targeting an oil field and an airport in the world's largest crude oil exporter. Meanwhile, US and Israeli militaries have reportedly drawn up plans for renewed attacks after next month’s midterm elections, with Iran’s energy infrastructure likely to be a key target. Despite escalating regional tensions and threats to shipping through the Strait of Hormuz, crude exports from the Persian Gulf have rebounded close to prewar levels. In Europe, Ukraine intensified its attacks on Russian refineries this week amid a US-Russia agreement involving diesel supplies.
2026-10-22