Actual
115.062
Daily Change
-0.75 -0.65%
Monthly
17.61%
Yearly
80.26%
Q4 Forecast
120.583
Brent oil - Summary

Brent crude fell below $115 a barrel on Tuesday, following a 0.8% loss on Monday, as renewed diplomatic efforts raised hopes of ending the US-Iran war and easing pressure on energy markets. Iran’s Supreme Leader Mojtaba Khamenei called for an end to the current state of “neither war nor peace,” signaling a possible opening for negotiations. Officials from Saudi Arabia, Pakistan and Turkey met in Tehran on Monday and agreed to continue discussions, while Russian President Vladimir Putin was expected to meet Iran’s President Masoud Pezeshkian and Qatar’s emir in Moscow. These developments improved prospects for de-escalation, although significant risks remain. A Saudi-led coalition reported intercepting drones and ballistic missiles launched by Iran-backed Houthi rebels, while Hezbollah was reportedly preparing for renewed conflict in Lebanon. Investors are also monitoring upcoming elections, including in Israel, for potential implications for regional stability and oil supply.

Brent oil - Stats

Brent fell to 114.55 USD/Bbl on October 27, 2026, down 1.09% from the previous day. Over the past month, Brent's price has risen 17.09%, and is up 79.46% 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 27 of 2026.

Brent oil - Forecast

Brent fell to 114.55 USD/Bbl on October 27, 2026, down 1.09% from the previous day. Over the past month, Brent's price has risen 17.09%, and is up 79.46% 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 120.58 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 138.56 in 12 months time.



Price Day Month Year Date
Crude Oil 101.26 -0.501 -0.49% 9.35% 68.34% Oct/27
Brent 115.06 -0.749 -0.65% 17.61% 80.26% Oct/27
Natural gas 2.62 0.0187 0.72% -15.62% -32.23% Oct/27
Gasoline 3.18 -0.0363 -1.13% 0.77% 65.29% Oct/27
Heating Oil 4.85 -0.0602 -1.23% 7.93% 105.30% Oct/27
Coal 149.75 -0.95 -0.63% 2.57% 43.65% Oct/26
Ethanol 1.75 -0.0450 -2.51% -16.96% -4.63% Oct/26
Naphtha 941.52 -1.25 -0.13% 16.92% 78.62% Oct/26
Propane 1.21 0.04 3.20% 36.72% 84.08% Oct/26
Uranium 90.10 0.0500 0.06% 0.73% 17.17% Oct/23
Methanol 3,746.00 -71.00 -1.86% 5.67% 71.52% Oct/27
Urals Oil 114.37 -0.70 -0.61% 3.09% 94.31% Oct/26


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
114.55 115.81 147.50 2.23 1970 - 2026 USD/BBL Daily

News Stream
Brent Crude Eases as Diplomacy Picks Up
Brent crude fell below $115 a barrel on Tuesday, following a 0.8% loss on Monday, as renewed diplomatic efforts raised hopes of ending the US-Iran war and easing pressure on energy markets. Iran’s Supreme Leader Mojtaba Khamenei called for an end to the current state of “neither war nor peace,” signaling a possible opening for negotiations. Officials from Saudi Arabia, Pakistan and Turkey met in Tehran on Monday and agreed to continue discussions, while Russian President Vladimir Putin was expected to meet Iran’s President Masoud Pezeshkian and Qatar’s emir in Moscow. These developments improved prospects for de-escalation, although significant risks remain. A Saudi-led coalition reported intercepting drones and ballistic missiles launched by Iran-backed Houthi rebels, while Hezbollah was reportedly preparing for renewed conflict in Lebanon. Investors are also monitoring upcoming elections, including in Israel, for potential implications for regional stability and oil supply.
2026-10-27
Brent Steadies on Mideast Diplomatic Efforts
Brent crude held above $116 per barrel on Tuesday, hovering at the highest since June 2022, as investors weighed renewed diplomatic efforts in the Middle East to prevent a wider escalation of the US-Iran conflict. Reports said senior officials from Saudi Arabia, Pakistan, and Turkey met with top Iranian officials on Monday to ease tensions and revive negotiations aimed at avoiding another wave of US-Israeli strikes against Iran. The discussions come roughly a week before the US midterm elections, after which President Donald Trump has repeatedly suggested that military strikes against Iran could resume following months of stalled negotiations. Meanwhile, Saudi-led forces continue to engage Iran-backed Houthi rebels, while Hezbollah is reportedly preparing for another regional conflict in Lebanon after receiving financial support from Iran. These ongoing tensions continue to pose risks to Middle Eastern oil supplies, despite crude flows having recovered to around prewar levels.
2026-10-26
Brent Crude Falls on Hopes for Saudi-Iran Conflict De-escalation
Brent crude fell to around $115 a barrel on Monday as Saudi Arabia’s defense minister held talks with Iranian leaders in Tehran to ease bilateral tensions. Prince Khalid bin Salman met with Iranian President Masoud Pezeshkian and Supreme National Security Council Secretary Mohsen Rezaei, alongside Pakistan’s army chief Asim Munir and Turkish intelligence chief Ibrahim Kalin. The talks came as Iran-aligned Houthi militants in Yemen repeatedly attacked Saudi Arabia in recent weeks. The ongoing hostilities have some investors worried about the risk of another major disruption to production, refining or export facilities. Meanwhile, the US authorized the release of up to 400,000 barrels from the Strategic Petroleum Reserve on Friday to address a supply disruption at a Louisiana refinery. However, prospects for additional US production remain uncertain, as companies remain reluctant to make major investments amid price volatility and geopolitical risks.
2026-10-26