Actual
79.452
Daily Change
0.002 0%
Monthly
7.14%
Yearly
19.60%
Q3 Forecast
90.257
Brent crude oil - Summary

Brent traded near $79 per barrel on Thursday, holding recent losses as Iran and Oman reached an agreement on a shipping route through the Strait of Hormuz, fueling expectations of increased energy flows from the Middle East. A joint statement from both countries is currently under review and in the final drafting stage, with the proposed route expected to remain operational for two to four months, although Tehran stressed that the agreement does not amount to a full reopening of the strategic waterway. Meanwhile, US officials continued to express confidence that a deal with Iran was nearing, though investors remained cautious about the durability of any lasting peace in the region. Iran-backed Houthi militants in Yemen also claimed they had targeted a Saudi oil tanker in the Gulf of Aden and threatened other vessels in the Red Sea, underscoring ongoing risks to regional shipping.

Brent crude oil - Stats

Brent rose to 80.06 USD/Bbl on August 6, 2026, up 0.77% from the previous day. Over the past month, Brent's price has risen 7.96%, and is up 20.52% 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 August 6 of 2026.

Brent crude oil - Forecast

Brent rose to 80.06 USD/Bbl on August 6, 2026, up 0.77% from the previous day. Over the past month, Brent's price has risen 7.96%, and is up 20.52% 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 90.26 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 102.75 in 12 months time.



Price Day Month Year Date
Crude Oil 75.22 0 0% 6.79% 17.75% Aug/06
Brent 79.45 0.002 0% 7.14% 19.60% Aug/06
Natural gas 2.68 -0.0046 -0.17% -17.81% -12.51% Aug/06
Gasoline 2.84 0.0025 0.09% -3.81% 37.21% Aug/06
Heating Oil 3.77 -0.0248 -0.65% 14.23% 66.38% Aug/06
Coal 128.80 -2.05 -1.57% 0.31% 12.49% Aug/05
Ethanol 1.93 -0.0175 -0.90% 0.65% 8.87% Aug/05
Naphtha 668.77 -14.47 -2.12% 8.45% 21.38% Aug/05
Propane 0.67 0.001 0.08% -3.54% -0.72% Aug/05
Uranium 86.35 0.0500 0.06% 0.99% 19.35% Aug/05
Methanol 2,461.00 -39.00 -1.56% 3.93% 2.71% Aug/06
Urals Oil 76.24 0.98 1.30% 45.25% 17.36% Aug/05


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
80.06 79.45 147.50 2.23 1970 - 2026 USD/BBL Daily

News Stream
Brent Holds Decline on Partial Hormuz Reopening
Brent traded near $79 per barrel on Thursday, holding recent losses as Iran and Oman reached an agreement on a shipping route through the Strait of Hormuz, fueling expectations of increased energy flows from the Middle East. A joint statement from both countries is currently under review and in the final drafting stage, with the proposed route expected to remain operational for two to four months, although Tehran stressed that the agreement does not amount to a full reopening of the strategic waterway. Meanwhile, US officials continued to express confidence that a deal with Iran was nearing, though investors remained cautious about the durability of any lasting peace in the region. Iran-backed Houthi militants in Yemen also claimed they had targeted a Saudi oil tanker in the Gulf of Aden and threatened other vessels in the Red Sea, underscoring ongoing risks to regional shipping.
2026-08-05
Brent Near Lows as Markets Eye Iran Agreement
Brent crude oil fluctuated below $80 per barrel on Wednesday, after losses of around 5% in each of the previous two sessions, as investors grew increasingly optimistic that a deal to reopen the Strait of Hormuz could soon be reached. According to Axios, the US, Iran and Oman are close to a 60-day interim agreement to reopen the waterway without tolls, with Washington aiming to announce the deal as early as Wednesday. US President Donald Trump also struck an optimistic tone, saying negotiations with Tehran were moving along very nicely and that more would be known within 48 hours. Meanwhile, Qatar said an interim proposal had been drafted, while reports indicated Iran was considering allowing European countries to clear mines from the strait. Meanwhile, Yemen's Houthis said they had attacked a Saudi vessel in the Red Sea. Still, prices remained well below recent highs.
2026-08-05
Brent Rises as Markets Weigh Supply, Peace Hopes
Brent crude oil rose to around $80 per barrel on Wednesday, snapping a two-day decline after Yemen's Houthis said they had attacked a Saudi vessel in the Red Sea. Still, prices remained well below recent highs as investors grew increasingly optimistic that a deal to reopen the Strait of Hormuz could soon be reached. According to Axios, the US, Iran and Oman are close to a 60-day interim agreement to reopen the waterway without tolls, with Washington aiming to announce the deal as early as Wednesday. US President Donald Trump also struck an optimistic tone, saying negotiations with Tehran were moving along very nicely and that more would be known within 48 hours. Meanwhile, Qatar said an interim proposal had been drafted, while reports indicated Iran was considering allowing European countries to clear mines from the strait. Separately, Saudi Arabia reportedly held talks with Yemen's Houthi movement through Omani mediators in an effort to prevent the conflict from escalating.
2026-08-05