Brent crude oil fell to around $72 a barrel on Friday, the lowest since February 27, as shipping transits through the Strait of Hormuz accelerated. Volumes surged as vessels openly navigated the waterway following progress toward a US-Iran peace deal, restoring Persian Gulf exports to roughly 75% of prewar levels. Crucially, Saudi Arabia began loading tankers at its Ras Tanura terminal, signaling a major regional output ramp-up. Middle Eastern producers, including the United Arab Emirates, Kuwait, and Qatar, are boosting supply despite difficulties securing enough tankers to transport the additional crude. Iraq is also seeking a higher OPEC production quota to recoup the oil sales it lost during the war. Meanwhile, US President Donald Trump accused Iran of violating a ceasefire by shooting drones at ships in Hormuz. Brent recorded an over 10% weekly drop, the largest in a month.

Brent fell to 72.95 USD/Bbl on June 26, 2026, down 3.07% from the previous day. Over the past month, Brent's price has fallen 20.92%, but it is still 9.21% 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 27 of 2026.

Brent fell to 72.95 USD/Bbl on June 26, 2026, down 3.07% from the previous day. Over the past month, Brent's price has fallen 20.92%, but it is still 9.21% 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 80.93 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 93.63 in 12 months time.



Price Day Month Year Date
Crude Oil 69.23 -2.690 -3.74% -21.93% 5.66% Jun/26
Brent 71.99 -3.270 -4.34% -21.96% 7.77% Jun/26
Natural gas 3.28 -0.0160 -0.49% 5.95% -12.30% Jun/26
Gasoline 2.96 -0.0702 -2.32% -3.58% 42.12% Jun/26
Heating Oil 3.21 -0.0900 -2.73% -9.09% 39.05% Jun/26
Coal 143.20 -0.35 -0.24% 7.99% 34.90% Jun/25
Ethanol 1.90 0.0300 1.60% -4.76% 13.10% Jun/26
Naphtha 682.06 -3.39 -0.49% -6.57% 21.97% Jun/26
Propane 0.72 0.02 2.75% -17.86% -6.26% Jun/25
Uranium 85.50 -0.1500 -0.18% 0.65% 8.92% Jun/25
Methanol 2,495.00 -6.00 -0.24% -16.89% 2.51% Jun/26
Urals Oil 60.11 1.28 2.18% -35.33% -5.74% Jun/25


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
72.95 75.26 147.50 2.23 1970 - 2026 USD/BBL Daily

News Stream
Brent Falls as Hormuz Flows Recover Sharply
Brent crude oil fell to around $72 a barrel on Friday, the lowest since February 27, as shipping transits through the Strait of Hormuz accelerated. Volumes surged as vessels openly navigated the waterway following progress toward a US-Iran peace deal, restoring Persian Gulf exports to roughly 75% of prewar levels. Crucially, Saudi Arabia began loading tankers at its Ras Tanura terminal, signaling a major regional output ramp-up. Middle Eastern producers, including the United Arab Emirates, Kuwait, and Qatar, are boosting supply despite difficulties securing enough tankers to transport the additional crude. Iraq is also seeking a higher OPEC production quota to recoup the oil sales it lost during the war. Meanwhile, US President Donald Trump accused Iran of violating a ceasefire by shooting drones at ships in Hormuz. Brent recorded an over 10% weekly drop, the largest in a month.
2026-06-26
Brent Crude Oil is down by 5.03%
Brent Crude Oil decreased 5.03% to 71.476 USD/Bbl
2026-06-26
Brent Falls as Hormuz Flows Recover Sharply
Brent crude oil fell to below $73 a barrel on Friday, the lowest since February 27, as shipping transits through the Strait of Hormuz accelerated. Volumes surged as vessels openly navigated the waterway following progress toward a US-Iran peace deal, restoring Persian Gulf exports to roughly 75% of prewar levels. Crucially, Saudi Arabia began loading tankers at its Ras Tanura terminal, signaling a major regional output ramp-up. Despite a temporary 2% price rebound on Thursday after the container ship Ever Lovely was struck by a projectile southeast of Oman, President Donald Trump confirmed the strait remains open and traffic has continued. Middle Eastern producers, including the United Arab Emirates, Kuwait, and Qatar, are boosting supply despite difficulties securing enough tankers to transport the additional crude. Iraq is also seeking a higher OPEC production quota to recoup the oil sales it lost during the war. Brent was on track for a 10% weekly drop, the largest in a month.
2026-06-26