Actual
88.384
Daily Change
2.62 3.06%
Monthly
10.01%
Yearly
34.75%
Q3 Forecast
86.622
Crude Oil - Summary

Crude oil rose to around $88 a barrel on Tuesday, following a 2.8% gain on Monday, as renewed hostilities between the US and Iran heightened concerns over prolonged disruptions to energy shipments through the Strait of Hormuz. US forces struck an island in the strategic waterway, prompting Iran to retaliate with attacks on US-linked targets in the UAE and Jordan, marking the first direct exchange of fire in about a month. Two supertankers were reportedly hit by unidentified projectiles while transiting the chokepoint, highlighting the risks facing vessels in the region. Despite the escalating tensions, crude exports continue to move through Hormuz, with some tankers reportedly switching off their transponders. Producers including Saudi Arabia, the UAE, Kuwait and Iraq are still managing to ship barrels. However, the threat of further attacks remains a major concern, particularly after a tanker was reportedly struck by three unidentified projectiles near Oman while exiting the waterway.

Crude Oil - Stats

Crude Oil rose to 88.38 USD/Bbl on September 1, 2026, up 3.06% from the previous day. Over the past month, Crude Oil's price has risen 10.01%, and is up 34.75% 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 147.27 in July of 2008. Crude Oil - data, forecasts, historical chart - was last updated on September 1 of 2026.

Crude Oil - Forecast

Crude Oil rose to 88.38 USD/Bbl on September 1, 2026, up 3.06% from the previous day. Over the past month, Crude Oil's price has risen 10.01%, and is up 34.75% 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 86.62 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 101.84 in 12 months time.



Price Day Month Year Date
Crude Oil 88.38 2.624 3.06% 10.01% 34.75% Sep/01
Brent 92.55 2.058 2.27% 10.48% 33.86% Sep/01
Natural gas 2.89 -0.0455 -1.55% 3.90% -3.97% Sep/01
Gasoline 3.09 0.0151 0.49% 4.23% 51.39% Sep/01
Heating Oil 4.63 0.2207 5.00% 19.45% 95.05% Sep/01
Coal 141.75 2.00 1.43% 6.98% 28.98% Aug/31
Ethanol 2.05 0.0300 1.49% 4.59% 4.99% Aug/28
Urals Oil 77.99 0.89 1.15% -8.67% 24.01% Aug/28



Related Last Previous Unit Reference
United States API Crude Oil Stock Change 4.20 -0.33 BBL/1Million Aug 2026
Saudi Arabia Crude Oil Production 7420.00 6637.00 BBL/D/1K Jul 2026
United States Crude Oil Production 13714.00 13967.00 BBL/D/1K May 2026
Russia Crude Oil Production 9826.74 9976.61 BBL/D/1K Apr 2026
United States Crude Oil Stocks Change 0.10 4.41 BBL/1Million Aug 2026
United States Weekly Crude Oil Production 13843.00 13830.00 Thousand Barrels Per Day Aug 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
88.38 85.76 147.27 -40.32 1983 - 2026 USD/BBL Daily

News Stream
Oil Extends Gains for 2nd Session
Crude oil rose to around $88 a barrel on Tuesday, following a 2.8% gain on Monday, as renewed hostilities between the US and Iran heightened concerns over prolonged disruptions to energy shipments through the Strait of Hormuz. US forces struck an island in the strategic waterway, prompting Iran to retaliate with attacks on US-linked targets in the UAE and Jordan, marking the first direct exchange of fire in about a month. Two supertankers were reportedly hit by unidentified projectiles while transiting the chokepoint, highlighting the risks facing vessels in the region. Despite the escalating tensions, crude exports continue to move through Hormuz, with some tankers reportedly switching off their transponders. Producers including Saudi Arabia, the UAE, Kuwait and Iraq are still managing to ship barrels. However, the threat of further attacks remains a major concern, particularly after a tanker was reportedly struck by three unidentified projectiles near Oman while exiting the waterway.
2026-09-01
Oil Extends Gains for 2nd Session
Crude oil rose to around $88 a barrel on Tuesday, following a 2.8% gain on Monday, as renewed hostilities between the US and Iran heightened concerns over prolonged disruptions to energy shipments through the Strait of Hormuz. US forces struck an island in the strategic waterway, prompting Iran to retaliate with attacks on US-linked targets in the UAE and Jordan, marking the first direct exchange of fire in about a month. Two supertankers were reportedly hit by unidentified projectiles while transiting the chokepoint, highlighting the risks facing vessels in the region. Despite the escalating tensions, crude exports continue to move through Hormuz, with some tankers reportedly switching off their transponders. Producers including Saudi Arabia, the UAE, Kuwait and Iraq are still managing to ship barrels. However, the threat of further attacks remains a major concern, particularly after a tanker was reportedly struck by three unidentified projectiles near Oman while exiting the waterway.
2026-09-01
Crude Oil Hits 5-week High
Crude Oil increased to 87.73 USD/Bbl, the highest since July 2026. Over the past 4 weeks, Crude Oil WTI gained 9.07%, and in the last 12 months, it increased 33.6%.
2026-09-01