Brent rose above $85 a barrel on Tuesday after the US military launched additional airstrikes against Iran, as Washington prepared to reimpose a blockade on the country's ports and coastal areas. Early in the session, oil prices softened from session-highs after President Donald Trump abandoned plans to impose a 20% fee on cargo passing through the Strait of Hormuz under US military protection. Trump said the expected revenue would be offset by future investments in the US. “I have decided to replace the 20% United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States,” Trump posted on social media, a day after announcing the fee. Meanwhile, tensions remained elevated with Iran’s Revolutionary Guard claiming attacks on two oil tankers transiting Hormuz without active tracking signals. The UAE’s ADNOC reported that two vessels were hit while crossing the strait.

Brent rose to 84.13 USD/Bbl on July 14, 2026, up 1.00% from the previous day. Over the past month, Brent's price has risen 1.16%, and is up 22.45% 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 July 14 of 2026.

Brent rose to 84.13 USD/Bbl on July 14, 2026, up 1.00% from the previous day. Over the past month, Brent's price has risen 1.16%, and is up 22.45% 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 78.61 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 88.24 in 12 months time.



Price Day Month Year Date
Crude Oil 80.03 1.690 2.16% -0.89% 20.31% Jul/14
Brent 85.47 2.040 2.45% 2.76% 24.39% Jul/14
Natural gas 2.92 0.0193 0.67% -7.33% -17.22% Jul/14
Gasoline 3.23 0.0648 2.05% 9.63% 48.45% Jul/14
Heating Oil 4.00 0.1759 4.60% 22.57% 66.46% Jul/14
Coal 128.70 0.10 0.08% -12.06% 15.84% Jul/13
Ethanol 1.93 -0.0400 -2.04% 3.49% 8.60% Jul/14
Naphtha 724.00 18.96 2.69% 4.99% 31.15% Jul/14
Propane 0.76 0.01 0.94% 2.24% 4.60% Jul/14
Uranium 85.15 -0.4500 -0.53% -0.58% 17.77% Jul/14
Methanol 2,634.00 129.00 5.15% -11.76% 11.14% Jul/14
Urals Oil 61.75 8.04 14.97% -8.92% -5.75% Jul/13


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
84.13 83.30 147.50 2.23 1970 - 2026 USD/BBL Daily

News Stream
Brent Tops $85
Brent rose above $85 a barrel on Tuesday after the US military launched additional airstrikes against Iran, as Washington prepared to reimpose a blockade on the country's ports and coastal areas. Early in the session, oil prices softened from session-highs after President Donald Trump abandoned plans to impose a 20% fee on cargo passing through the Strait of Hormuz under US military protection. Trump said the expected revenue would be offset by future investments in the US. “I have decided to replace the 20% United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States,” Trump posted on social media, a day after announcing the fee. Meanwhile, tensions remained elevated with Iran’s Revolutionary Guard claiming attacks on two oil tankers transiting Hormuz without active tracking signals. The UAE’s ADNOC reported that two vessels were hit while crossing the strait.
2026-07-14
Brent Holds Above $83
Brent crude oil steadied above $83 per barrel on Tuesday after gaining more than 4% earlier in the session and following a 9.6% surge the previous day, after President Donald Trump abandoned plans to impose a 20% fee on cargo passing through the Strait of Hormuz under US military protection. Trump said the expected revenue would be offset by future investments in the US. “I have decided to replace the 20% United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States,” Trump posted on social media. Meanwhile, tensions remained elevated as the US carried out strikes against Iranian military targets, while Iran’s Revolutionary Guard claimed attacks on two oil tankers transiting Hormuz without active tracking signals. The UAE’s ADNOC also reported that two vessels were hit while crossing the strait.
2026-07-14
Brent Crude Tops $84
Brent crude oil climbed more than 4% to nearly $84 per barrel on Tuesday, reaching its highest level in almost a month after the collapse of the US-Iran truce reignited concerns over supply disruptions. The rally followed a 9.6% surge in the previous session as fresh attacks targeted shipping in the Strait of Hormuz. The United Arab Emirates said two of its tankers were struck while transiting the waterway, highlighting growing risks to one of the world's busiest energy routes. The attacks came after the US resumed its blockade on Iranian oil exports, launched new strikes against Iran, and proposed charging vessels protected by the US Navy. Supply concerns also intensified as Saudi Arabia intercepted missiles launched by Yemen's Houthis, while Washington backed tougher sanctions on Russian energy exports. The renewed escalation has raised fears of prolonged disruptions to global oil supplies and higher geopolitical risk premiums.
2026-07-14