Actual
93.443
Daily Change
1.89 2.06%
Monthly
-7.84%
Yearly
57.07%
Q4 Forecast
95.535
Crude Oil - Summary

Crude oil rose almost 2% to above $93.3 a barrel on Monday, extending gains for a third consecutive session as renewed attacks in Ukraine and the Middle East heightened supply concerns. Ukrainian President Volodymyr Zelenskyy said Russia had continued striking energy infrastructure, including a gas-production facility, undermining the energy ceasefire previously announced by US President Donald Trump. Zelenskyy added that Ukraine would continue its own attacks against Russian targets. Meanwhile, tensions intensified in Saudi Arabia, where authorities reported further drone and cruise missile attacks following a deadly weekend strike on Riyadh’s airport. The Saudi-led coalition also reported additional attacks linked to Iran-backed Houthi militants in Yemen. Separately, tanker attacks in the Strait of Hormuz raised concerns over shipping security, despite crude exports from the Persian Gulf remaining relatively strong.

Crude Oil - Stats

Crude Oil rose to 93.40 USD/Bbl on October 12, 2026, up 1.68% from the previous day. Over the past month, Crude Oil's price has fallen 7.88%, but it is still 56.99% higher 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 147.27 in July of 2008. Crude Oil - data, forecasts, historical chart - was last updated on October 12 of 2026.

Crude Oil - Forecast

Crude Oil rose to 93.40 USD/Bbl on October 12, 2026, up 1.68% from the previous day. Over the past month, Crude Oil's price has fallen 7.88%, but it is still 56.99% higher 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 95.54 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 109.89 in 12 months time.



Price Day Month Year Date
Crude Oil 93.44 1.890 2.06% -7.84% 57.07% Oct/12
Brent 106.18 1.930 1.84% 0.47% 67.69% Oct/12
Natural gas 3.19 -0.0343 -1.07% 10.00% 2.17% Oct/12
Gasoline 3.27 -0.0267 -0.81% -1.47% 76.69% Oct/12
Heating Oil 4.69 -0.0152 -0.32% -5.40% 108.64% Oct/12
Coal 149.35 0.50 0.34% 0.91% 42.85% Oct/12
Ethanol 2.07 0.0575 2.86% -0.48% 17.61% Oct/12
Urals Oil 118.23 -10.94 -8.47% 14.01% 100.76% Oct/09



Related Last Previous Unit Reference
United States API Crude Oil Stock Change -2.09 1.02 BBL/1Million Oct 2026
Saudi Arabia Crude Oil Production 6238.00 8135.00 BBL/D/1K Aug 2026
United States Crude Oil Production 13948.00 13844.00 BBL/D/1K Jul 2026
Russia Crude Oil Production 9582.00 9716.87 BBL/D/1K Jun 2026
United States Crude Oil Stocks Change -3.19 0.92 BBL/1Million Oct 2026
United States Weekly Crude Oil Production 13979.00 13955.00 Thousand Barrels Per Day Oct 2026

Crude Oil
Crude oil is one of the most widely followed commodities in the world due to its central role in the global economy. It is a key source of energy, a critical input for transportation and manufacturing, and a major driver of inflation and geopolitical dynamics. As a result, movements in oil prices are closely monitored by governments, businesses, and investors alike. West Texas Intermediate (WTI) 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 WTI crude oil futures is the Cushing Hub in Oklahoma, and each futures contract represents 1,000 barrels of crude oil. Crude oil 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 WTI crude oil prices. Official pricing and settlement data for WTI crude oil futures should be obtained directly from NYMEX. 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
93.40 91.85 147.27 -40.32 1983 - 2026 USD/BBL Daily

News Stream
Crude Oil Rises for 3rd Session
Crude oil rose almost 2% to above $93.3 a barrel on Monday, extending gains for a third consecutive session as renewed attacks in Ukraine and the Middle East heightened supply concerns. Ukrainian President Volodymyr Zelenskyy said Russia had continued striking energy infrastructure, including a gas-production facility, undermining the energy ceasefire previously announced by US President Donald Trump. Zelenskyy added that Ukraine would continue its own attacks against Russian targets. Meanwhile, tensions intensified in Saudi Arabia, where authorities reported further drone and cruise missile attacks following a deadly weekend strike on Riyadh’s airport. The Saudi-led coalition also reported additional attacks linked to Iran-backed Houthi militants in Yemen. Separately, tanker attacks in the Strait of Hormuz raised concerns over shipping security, despite crude exports from the Persian Gulf remaining relatively strong.
2026-10-12
Crude Oil Rises for 3rd Day
Crude oil traded above $93 a barrel on Monday, attempting gains for the third session, as escalating Middle East tensions heightened concerns over regional security. Saudi Arabia’s main airport came under attack again on Sunday, while another tanker was targeted in the Strait of Hormuz. The incidents followed a phone call between Saudi and Iranian foreign ministers and came amid renewed fighting involving Iran-backed Houthi forces in Yemen. Despite the security risks, oil exports from the Persian Gulf remained relatively resilient. Shipments reportedly recovered to 17.5 million bpd, around 98% of pre-war levels. Meanwhile, US President Donald Trump claimed that Russia and Ukraine agreed to an immediate energy ceasefire. Moscow plans to export 500,000 tons of diesel, far below last year’s 28.6 million tons. The IEA urged governments to accelerate pledged diesel releases, warning that current market conditions require immediate attention ahead of its October 15 meeting.
2026-10-12
Oil Drops on Russian Diesel Supply Hopes
Crude oil prices fell toward $90 per barrel on Monday, ending a two-session rally as expectations that Russian diesel supplies could help alleviate global fuel shortages weighed on prices. On Friday, President Donald Trump said his administration had reached an agreement for Russia to provide hundreds of thousands of tons of diesel fuel, signaling a partial easing of Moscow’s export ban. Trump also claimed that Russia and Ukraine had agreed to an “energy ceasefire” that would take effect immediately. Meanwhile, Saudi Arabia’s main airport was targeted again on Sunday by Iran-backed Houthi militants, a day after an earlier strike killed 12 people and injured more than 300. The attacks prompted Trump to consider joining Saudi Arabia in retaliatory action against the Houthis in Yemen. However, Iran’s Minister of Foreign Affairs Abbas Araghchi reportedly reached out to his counterpart in Riyadh to discuss about the region’s recent escalation of events as well as the efforts to address it.
2026-10-12