WTI crude futures rose above $92 per barrel on Thursday, recovering part of the previous session’s losses amid conflicting statements from the US and Iran on efforts to end the conflict that has roiled global energy markets. Iran said it has no intention of entering talks with the US and would reject a proposed ceasefire, instead outlining its own conditions including sovereign control over the Strait of Hormuz. Meanwhile, the White House maintained that peace efforts are ongoing, with Washington reportedly sending a 15-point proposal to Iran via Pakistan aimed at resolving the conflict and reopening the critical waterway. The near-closure of Hormuz has severely disrupted global oil flows, resulting in the loss of millions of barrels of daily supply. While some vessels continue to transit under Iranian protection, US allies in the Asia-Pacific, including South Korea, Australia, and the Philippines, are grappling with a worsening fuel shortage.

Crude Oil rose to 92.83 USD/Bbl on March 26, 2026, up 2.78% from the previous day. Over the past month, Crude Oil's price has risen 38.51%, and is up 32.77% 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, Crude Oil reached an all time high of 410.45 in December of 2025. Crude Oil - data, forecasts, historical chart - was last updated on March 26 of 2026.

Crude Oil rose to 92.83 USD/Bbl on March 26, 2026, up 2.78% from the previous day. Over the past month, Crude Oil's price has risen 38.51%, and is up 32.77% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil is expected to trade at 93.84 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 106.90 in 12 months time.



Price Day Month Year Date
Crude Oil 93.07 2.747 3.04% 38.86% 33.11% Mar/26
Brent 105.83 3.605 3.53% 45.22% 44.29% Mar/26
Natural gas 2.93 -0.0206 -0.70% 2.53% -25.31% Mar/26
Gasoline 3.06 0.0444 1.47% 33.75% 36.36% Mar/26
Heating Oil 4.18 0.1720 4.29% 60.95% 82.88% Mar/26
Coal 137.55 -2.20 -1.57% 15.44% 42.17% Mar/25
Ethanol 2.02 0.0150 0.75% 12.57% 15.64% Mar/25
Urals Oil 96.31 -2.68 -2.71% 66.51% 45.57% Mar/25



Related Last Previous Unit Reference
United States API Crude Oil Stock Change 2.30 6.60 BBL/1Million Mar 2026
Saudi Arabia Crude Oil Production 10111.00 10100.00 BBL/D/1K Feb 2026
United States Crude Oil Production 13655.00 13788.00 BBL/D/1K Dec 2025
Russia Crude Oil Production 10056.00 10074.00 BBL/D/1K Nov 2025
United States Crude Oil Stocks Change 6.93 6.16 BBL/1Million Mar 2026
United States Weekly Crude Oil Production 13657.00 13668.00 Thousand Barrels Per Day Mar 2026

Crude Oil
Crude oil futures are the benchmark for oil prices in the United States and serve as a reference point for global oil pricing. Crude oil is classified as light and sweet where "light" refers to its low density and "sweet" indicates its low sulfur content. The delivery point for crude oil futures is Cushing Hub in Oklahoma. Each futures contract represents 1,000 barrels of crude oil. Crude Oil prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so..
Actual Previous Highest Lowest Dates Unit Frequency
92.83 90.32 410.45 -40.32 1983 - 2026 USD/BBL Daily

News Stream
Oil Climbs on Mideast Uncertainties
WTI crude futures rose above $92 per barrel on Thursday, recovering part of the previous session’s losses amid conflicting statements from the US and Iran on efforts to end the conflict that has roiled global energy markets. Iran said it has no intention of entering talks with the US and would reject a proposed ceasefire, instead outlining its own conditions including sovereign control over the Strait of Hormuz. Meanwhile, the White House maintained that peace efforts are ongoing, with Washington reportedly sending a 15-point proposal to Iran via Pakistan aimed at resolving the conflict and reopening the critical waterway. The near-closure of Hormuz has severely disrupted global oil flows, resulting in the loss of millions of barrels of daily supply. While some vessels continue to transit under Iranian protection, US allies in the Asia-Pacific, including South Korea, Australia, and the Philippines, are grappling with a worsening fuel shortage.
2026-03-25
Oil Falls on US Diplomatic Push
WTI crude oil futures dropped more than 2% to $91 per barrel on Wednesday as US diplomatic efforts to end the war with Iran gained traction, overshadowing reports of additional troop deployments and the near-closure of the Strait of Hormuz. The US reportedly drafted a 15-point plan delivered to Iran via Pakistan to help resolve the conflict, while around 2,000 soldiers from the 82nd Airborne Division were deployed to the region to support security at the vital waterway. Iran signaled little willingness to compromise, firing missiles at Israel and ruling out ceasefire talks, while allowing some foreign ships to transit the strait under restrictions. The crisis has intensified global energy pressures, with Chevron warning of a potential California fuel crisis, hundreds of fuel shortages reported in Australia, the Philippines declaring a national energy emergency, and Asian nations reportedly hoarding jet fuel.
2026-03-25
Oil Falls on US Diplomatic Push
WTI crude futures dropped about 3% toward $89 per barrel on Wednesday, reversing the previous session’s gains amid reports that Washington was pursuing diplomatic efforts to end the war with Iran. Israeli media indicated that the US was seeking a one-month ceasefire to facilitate talks, while the New York Times reported that Washington had sent Iran a 15-point proposal to resolve the conflict. These developments outweighed concerns over further Middle East escalation after President Donald Trump ordered the deployment of roughly 2,000 troops to the region, as the administration considered options to loosen Iran’s control over the Strait of Hormuz. On Tuesday, oil prices had risen about 5% after Tehran denied engaging in negotiations with the US and signaled it had no intention of restoring normal shipping conditions in the Strait, while US allies such as Saudi Arabia and the United Arab Emirates expressed readiness to join the conflict against Iran.
2026-03-24