Brent crude oil futures trimmed earlier losses and steadied around $108 per barrel on Wednesday, after a 7.5% rally over the previous three sessions. The move followed the International Energy Agency’s warning that global observed oil inventories fell at a record pace of around 4 million barrels per day in March and April. The IEA said in its Oil Market Report that with inventories already drawing sharply, further volatility is likely ahead of the peak summer demand season, and that the market could remain severely undersupplied until October even if the conflict ends sooner. Middle East tensions continue to disrupt flows, with Asian refiners including Japan seeking alternatives to Persian Gulf supplies. Meanwhile, reports suggest Iranian export shipments have recently stalled, marking the first sustained interruption since the conflict started. US President Donald Trump said the situation remains under control, downplaying concerns ahead of talks with China’s Xi Jinping.

Brent fell to 107.53 USD/Bbl on May 13, 2026, down 0.22% from the previous day. Over the past month, Brent's price has risen 13.44%, and is up 62.70% 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 May 13 of 2026.

Brent fell to 107.53 USD/Bbl on May 13, 2026, down 0.22% from the previous day. Over the past month, Brent's price has risen 13.44%, and is up 62.70% 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 103.40 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 116.69 in 12 months time.



Price Day Month Year Date
Crude Oil 101.79 -0.391 -0.38% 11.51% 61.19% May/13
Brent 107.40 -0.374 -0.35% 13.30% 62.50% May/13
Natural gas 2.83 -0.0146 -0.51% 8.83% -19.00% May/13
Gasoline 3.68 -0.0180 -0.49% 21.06% 71.91% May/13
Heating Oil 4.12 -0.0402 -0.97% 13.64% 89.81% May/13
Coal 132.50 1.65 1.26% -2.18% 32.63% May/12
Ethanol 1.97 0.0350 1.81% 1.42% 15.25% May/12
Naphtha 898.84 25.61 2.93% -3.58% 60.82% May/12
Propane 0.89 0.02 2.05% 13.77% 17.53% May/12
Uranium 86.30 0.1500 0.17% 1.05% 20.53% May/12
Methanol 3,042.00 -57.00 -1.84% -2.56% 24.16% May/13
Urals Oil 102.07 4.21 4.30% -15.52% 70.77% May/12


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
107.53 107.77 147.50 2.23 1970 - 2026 USD/BBL Daily

News Stream
Brent Pares Losses as Supply Tightness Persists
Brent crude oil futures trimmed earlier losses and steadied around $108 per barrel on Wednesday, after a 7.5% rally over the previous three sessions. The move followed the International Energy Agency’s warning that global observed oil inventories fell at a record pace of around 4 million barrels per day in March and April. The IEA said in its Oil Market Report that with inventories already drawing sharply, further volatility is likely ahead of the peak summer demand season, and that the market could remain severely undersupplied until October even if the conflict ends sooner. Middle East tensions continue to disrupt flows, with Asian refiners including Japan seeking alternatives to Persian Gulf supplies. Meanwhile, reports suggest Iranian export shipments have recently stalled, marking the first sustained interruption since the conflict started. US President Donald Trump said the situation remains under control, downplaying concerns ahead of talks with China’s Xi Jinping.
2026-05-13
Brent Eases as Iran War Drags On
Brent crude futures fell below $107 per barrel on Wednesday, snapping a three-day rally, although the prolonged conflict in the Middle East and the continued near-closure of the crucial Strait of Hormuz squeezed global energy supplies. Efforts to broker an end to the US-Iran war have yet to produce meaningful progress, while the fragile ceasefire remained at risk after Washington dismissed Tehran’s latest response to a proposed peace framework. Hormuz continues to face restrictions from both US and Iranian forces, remaining a major obstacle in negotiations and disrupting substantial flows of crude, natural gas, and fuels. Meanwhile, President Donald Trump is expected to meet Chinese President Xi Jinping this week, though Trump indicated that trade negotiations would take precedence over developments surrounding the Iran conflict. Separately, US inflation accelerated more than expected in April as surging energy prices linked to the Middle East crisis added to price pressures.
2026-05-12
Brent Extends Gains Amid Ceasefire Doubts
Brent crude futures climbed above $107 per barrel on Tuesday, extending gains from the previous session, as President Donald Trump said the US-Iran ceasefire was on “massive life support” after dismissing Tehran’s latest peace proposal, fueling concerns that the Strait of Hormuz may stay effectively closed for an extended period. Iran reportedly called for the US to end its naval blockade and ease sanctions while seeking to retain some authority over traffic through the key shipping route. Meanwhile, reports suggested President Trump is set to meet with his national security team to weigh a potential return to military operations, alongside renewed discussions about escorting commercial vessels through Hormuz. Saudi Aramco CEO Amin Nasser warned that the market is losing roughly 100 million barrels of supply each week, adding that prolonged disruptions could push any market normalization into next year.
2026-05-11