Oil prices are set to jump sharply when trading resumes Sunday night, as unprecedented U.S. and Israeli strikes on Iran have intensified Middle East tensions and heightened concerns over potential disruptions to global energy supplies. Prices have been supported since the start of the year by persistent geopolitical tensions. On Friday, WTI crude futures climbed to around $67 per barrel, hovering near a seven-month high, as traders reacted nervously to reports that U.S. officials left talks in Geneva disappointed with the lack of progress, even as Iranian and Omani participants struck a more optimistic tone.

Crude Oil rose to 67.02 USD/Bbl on February 27, 2026, up 2.78% from the previous day. Over the past month, Crude Oil's price has risen 6.03%, but it is still 3.93% lower than a year ago, 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 1 of 2026.

Crude Oil rose to 67.02 USD/Bbl on February 27, 2026, up 2.78% from the previous day. Over the past month, Crude Oil's price has risen 6.03%, but it is still 3.93% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil is expected to trade at 67.65 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 74.65 in 12 months time.



Price Day Month Year Date
Crude Oil 67.02 1.810 2.78% 6.03% -3.93% Feb/27
Brent 72.87 2.030 2.87% 8.16% 0.08% Feb/27
Natural gas 2.86 0.0320 1.13% -23.39% -25.43% Feb/27
Gasoline 2.30 0.0479 2.13% 21.63% 3.16% Feb/27
Heating Oil 2.59 0.0684 2.71% 6.02% 11.67% Feb/27
Coal 119.15 2.95 2.54% 9.51% 19.03% Feb/26
Ethanol 1.79 0 0% 9.48% 4.37% Feb/27
Urals Oil 57.84 1.11 1.96% 6.17% -14.02% Feb/26



Related Last Previous Unit Reference
United States API Crude Oil Stock Change 11.40 -0.61 BBL/1Million Feb 2026
Saudi Arabia Crude Oil Production 10100.00 10084.00 BBL/D/1K Jan 2026
United States Crude Oil Production 13655.00 13788.00 BBL/D/1K Dec 2025
Russia Crude Oil Production 10074.00 9946.00 BBL/D/1K Oct 2025
United States Crude Oil Stocks Change 15.99 -9.01 BBL/1Million Feb 2026
United States Weekly Crude Oil Production 13702.00 13735.00 Thousand Barrels Per Day Feb 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
67.02 65.21 410.45 -40.32 1983 - 2026 USD/BBL Daily

News Stream
Oil Set to Rise Sharply
Oil prices are set to jump sharply when trading resumes Sunday night, as unprecedented U.S. and Israeli strikes on Iran have intensified Middle East tensions and heightened concerns over potential disruptions to global energy supplies. Prices have been supported since the start of the year by persistent geopolitical tensions. On Friday, WTI crude futures climbed to around $67 per barrel, hovering near a seven-month high, as traders reacted nervously to reports that U.S. officials left talks in Geneva disappointed with the lack of progress, even as Iranian and Omani participants struck a more optimistic tone.
2026-02-28
Oil Extends Gains Toward 7-Month High
WTI crude oil futures rose to around $67 per barrel, near a seven-month high, as the US and Iran agreed to extend nuclear talks into next week, keeping uncertainty high. Traders were nervous because officials familiar with the US position said the US delegation left talks in Geneva disappointed with progress, even as Iranian and Omani participants were more positive. The US also authorised the departure of non-emergency staff and families from Mission Israel, signalling heightened regional tensions and reinforcing risk premia. Prices have been buoyed since the start of the year by these geopolitical risks, which have helped counter broader expectations of a supply glut. Investors are also focused on an upcoming OPEC+ meeting on Sunday to decide oil supply policy, with the market watching for signs of production changes against a backdrop of continued US military deployment in the region. Considering the full month of February, oil is up around 2.5%, extending a 13.6% rally in January.
2026-02-27
Oil Rises as Iran Nuclear Talks Extend
WTI crude oil futures rose toward $67 per barrel on Friday following a choppy session, on track for a second straight monthly gain after the US and Iran agreed to continue nuclear negotiations next week. Iran described the latest Geneva talks as showing good progress, but a source familiar with the US position said American officials left the negotiations disappointed. Discussions will resume after consultations in each capital, alongside technical-level meetings scheduled next week in Vienna. Tensions persisted as Tehran said it would not allow enriched uranium to leave the country, while a large deployment of US forces in the Middle East kept markets on edge, as President Trump warned of possible military action if the two sides fail to reach an agreement. Meanwhile, traders will closely monitor Sunday’s scheduled OPEC+ supply meeting amid expectations of a broader oil glut.
2026-02-27