Actual
104.420
Daily Change
-3.21 -2.98%
Monthly
17.35%
Yearly
55.87%
Q3 Forecast
97.409
Brent oil - Summary

Brent crude paused its rally to settle around $104 a barrel on Friday after Iranian state media said Tehran would meet Gulf states in Oman to discuss the Strait of Hormuz. Gulf Cooperation Council diplomats are expected to meet their Iranian counterpart on Monday to discuss a possible temporary arrangement for managing shipping through the strait. Adding to downward pressure, the EIA raised its 2027 US crude production forecast to 14.3 million barrels a day, while the IEA sharply cut its global oil demand outlook, forecasting a 2.5 million-barrel-a-day contraction in 2026. Meanwhile, China is on track to import roughly the same volume of crude in September as in August, with purchases recovering from June’s decade-low. Saudi Arabia shut its East-West crude pipeline as a precaution after multiple attacks, while Iran-backed Houthis reportedly advanced to Yemen’s Perim Island. Brent surged 9% on the week.

Brent oil - Stats

Brent fell to 104.42 USD/Bbl on September 11, 2026, down 2.98% from the previous day. Over the past month, Brent's price has risen 17.35%, and is up 55.87% 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 September 11 of 2026.

Brent oil - Forecast

Brent fell to 104.42 USD/Bbl on September 11, 2026, down 2.98% from the previous day. Over the past month, Brent's price has risen 17.35%, and is up 55.87% 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 97.41 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 113.59 in 12 months time.



Price Day Month Year Date
Crude Oil 99.99 -2.490 -2.43% 20.08% 59.50% Sep/11
Brent 104.42 -3.210 -2.98% 17.35% 55.87% Sep/11
Natural gas 2.82 -0.0147 -0.52% 0.55% -4.14% Sep/11
Gasoline 3.32 -0.0753 -2.22% 5.21% 67.13% Sep/11
Heating Oil 4.99 -0.0639 -1.26% 16.02% 118.06% Sep/11
Coal 148.00 0.65 0.44% 14.46% 46.68% Sep/10
Ethanol 2.06 -0.0100 -0.48% 3.53% 3.27% Sep/11
Naphtha 871.17 45.56 5.52% 17.22% 55.26% Sep/10
Propane 0.86 0.01 1.32% 22.29% 21.62% Sep/10
Uranium 90.20 0.2000 0.22% 3.80% 18.06% Sep/10
Methanol 4,181.00 309.00 7.98% 60.44% 87.49% Sep/11
Urals Oil 103.70 7.96 8.31% 23.00% 70.06% Sep/10


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
104.42 107.63 147.50 2.23 1970 - 2026 USD/BBL Daily

News Stream
Brent Rally Pauses on Mideast Diplomatic Efforts
Brent crude paused its rally to settle around $104 a barrel on Friday after Iranian state media said Tehran would meet Gulf states in Oman to discuss the Strait of Hormuz. Gulf Cooperation Council diplomats are expected to meet their Iranian counterpart on Monday to discuss a possible temporary arrangement for managing shipping through the strait. Adding to downward pressure, the EIA raised its 2027 US crude production forecast to 14.3 million barrels a day, while the IEA sharply cut its global oil demand outlook, forecasting a 2.5 million-barrel-a-day contraction in 2026. Meanwhile, China is on track to import roughly the same volume of crude in September as in August, with purchases recovering from June’s decade-low. Saudi Arabia shut its East-West crude pipeline as a precaution after multiple attacks, while Iran-backed Houthis reportedly advanced to Yemen’s Perim Island. Brent surged 9% on the week.
2026-09-11
Brent Pares Gains
Brent crude fell below $105 a barrel on Friday after Iranian state media reported plans for talks with Gulf states in Oman, suggesting diplomatic efforts are emerging despite a sharp escalation in tensions over the past week. Top diplomats from the six-member Gulf Cooperation Council are expected to meet their Iranian counterpart on Monday to discuss a possible temporary arrangement for managing shipping through the Strait of Hormuz. Meanwhile, the International Energy Agency sharply lowered its outlook for global oil demand, forecasting a 2.5 million-barrel-a-day contraction in 2026, the largest annual decline since the Covid-19 pandemic, as higher prices and tighter supplies weigh on consumption. The IEA warned demand could weaken further if the conflict persists, while OPEC cut its 2026 demand-growth forecast for a fifth consecutive time. Despite Friday’s decline, Brent rose for a second week as Houthi threats to Saudi Arabia continue to raise supply concerns.
2026-09-11
Brent Holds Weekly Gain as Hormuz Risks Persist
Brent crude slipped below $105 a barrel on Friday but remained almost 9% higher for the week as investors weighed diplomatic efforts to ease tensions around the Strait of Hormuz against continued fighting across the Middle East. Gulf foreign ministers are expected to meet their Iranian counterpart in Oman on Monday as part of efforts to secure support for a temporary arrangement to manage shipping through the strategic waterway. Meanwhile, the International Energy Agency sharply downgraded its outlook for oil demand, forecasting a 2.5 million-barrel-a-day contraction in 2026, the largest annual decline since the Covid-19 pandemic as higher fuel prices and tighter supplies weigh on consumption. The IEA said demand could fall further if the Iran conflict persists. OPEC has also reduced its 2026 demand-growth forecast for a fifth consecutive time. However, renewed advances by Iran-backed Houthi militants towards the Bab al-Mandeb Strait have raised fresh concerns over supply disruptions.
2026-09-11