Brent crude oil futures fell 2% to $102 per barrel in the first trading session of April, following a record monthly jump in March, weighed by hopes of de-escalation in the Middle East. President Trump told reporters that US forces could withdraw from Iran within two to three weeks and suggested a deal with Tehran might be possible, though not necessary to end the conflict. However, uncertainty remained as additional US troops arrived in the region, while Tehran said no formal peace talks were underway but signaled a willingness to end the war if its conditions are met. All eyes are now on Trump’s nationwide address on the Iran conflict later today. Meanwhile, Iranian drones struck fuel tanks at Kuwait International Airport, triggering a large fire and causing damage, adding to recent attacks on energy infrastructure. Elsewhere, API data showed US crude inventories surged by 10.263 million barrels last week.

Brent fell to 103.65 USD/Bbl on April 1, 2026, down 0.30% from the previous day. Over the past month, Brent's price has risen 33.33%, and is up 38.30% 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 April 1 of 2026.

Brent fell to 103.65 USD/Bbl on April 1, 2026, down 0.30% from the previous day. Over the past month, Brent's price has risen 33.33%, and is up 38.30% 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 119.58 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 127.05 in 12 months time.



Price Day Month Year Date
Crude Oil 99.94 -1.435 -1.42% 40.31% 39.37% Apr/01
Brent 103.34 -0.634 -0.61% 32.93% 37.87% Apr/01
Natural gas 2.86 -0.0211 -0.73% -3.28% -29.40% Apr/01
Gasoline 3.17 -0.0347 -1.08% 33.69% 41.60% Apr/01
Heating Oil 4.19 0.0735 1.79% 44.37% 87.08% Apr/01
Coal 142.45 -1.80 -1.25% 10.68% 38.77% Mar/31
Ethanol 2.01 -0.0300 -1.47% 10.77% 11.08% Mar/31
Naphtha 950.35 97.15 11.39% 50.02% 53.15% Mar/31
Propane 0.81 0.01 1.76% 14.45% -11.72% Mar/31
Uranium 84.15 0.2500 0.30% -2.66% 29.66% Mar/31
Methanol 3,053.00 -143.00 -4.47% 33.44% 22.91% Apr/01
Urals Oil 123.45 7.47 6.44% 97.46% 76.61% Mar/31


Brent crude oil
Brent Crude oil is a major benchmark price for purchases of oil worldwide. While Brent Crude oil is sourced from the North Sea the oil production coming from Europe, Africa and the Middle East flowing West tends to be priced relative to this oil. The Brent prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Actual Previous Highest Lowest Dates Unit Frequency
103.65 103.97 147.50 2.23 1970 - 2026 USD/BBL Daily

News Stream
Brent Slides on Iran De-Escalation Hopes
Brent crude oil futures fell 2% to $102 per barrel in the first trading session of April, following a record monthly jump in March, weighed by hopes of de-escalation in the Middle East. President Trump told reporters that US forces could withdraw from Iran within two to three weeks and suggested a deal with Tehran might be possible, though not necessary to end the conflict. However, uncertainty remained as additional US troops arrived in the region, while Tehran said no formal peace talks were underway but signaled a willingness to end the war if its conditions are met. All eyes are now on Trump’s nationwide address on the Iran conflict later today. Meanwhile, Iranian drones struck fuel tanks at Kuwait International Airport, triggering a large fire and causing damage, adding to recent attacks on energy infrastructure. Elsewhere, API data showed US crude inventories surged by 10.263 million barrels last week.
2026-04-01
Brent Wobbles as Traders Weigh Trump's Remarks
Brent crude oil futures fluctuated around $103 per barrel on Wednesday, following a record monthly jump in March, as markets weighed President Trump’s remarks amid fresh attacks in the Persian Gulf. Trump told reporters that US forces could withdraw from Iran within two to three weeks and suggested a deal with Tehran might be possible but was not required to end the conflict. However, markets remained cautious as additional US troops arrived in the region, and Tehran said no formal peace talks were underway but signaled willingness to end the war if its conditions are met. All eyes are now on Trump’s nationwide address on the Iran conflict later today. Meanwhile, Iranian drones struck fuel tanks at Kuwait International Airport, triggering a large fire and damaging the tanks, adding to recent attacks on energy infrastructure. Elsewhere, API data showed US crude inventories surged by 10.263 million barrels last week.
2026-04-01
Brent Drops Further Despite Over 60% Monthly Surge
Brent crude retreated to around $104.1 per barrel on Wednesday morning, extending losses from the prior session, as hopes rose for a Middle East de-escalation. The Wall Street Journal reported President Donald Trump may end US operations before the Strait of Hormuz reopens, aiming to avoid prolonging the war. Iran’s president echoed a willingness to halt hostilities if guarantees are secured. Yet skepticism lingered, with Iran’s past firm demands and ongoing US troop deployments heightening risks of renewed escalation. Despite the pullback, Brent surged over 60% in March, its biggest monthly gain since records began in 1988, driven by supply disruptions and damaged infrastructure across key OPEC producers. On the data front, US crude inventories soared by 10.263 million barrels in the week ended March 27, the largest build in weeks, after a 2.3 million barrel rise previously, defying forecasts for a 1.3 million barrel draw.
2026-03-31