Actual
75.220
Daily Change
0 0%
Monthly
6.79%
Yearly
17.75%
Q3 Forecast
87.137
Crude Oil - Summary

Crude oil traded around $75 per barrel on Thursday after sliding for three straight sessions, as Iran and Oman reached an agreement on a shipping route through the Strait of Hormuz, fueling expectations of increased energy flows from the Middle East. A joint statement from both countries is currently under review and in the final drafting stage, with the proposed route expected to remain operational for two to four months, although Tehran stressed that the agreement does not amount to a full reopening of the strategic waterway. Meanwhile, US officials continued to express confidence that a deal with Iran was nearing, though investors remained cautious about the durability of any lasting peace in the region. Iran-backed Houthi militants in Yemen also claimed they had targeted a Saudi oil tanker in the Gulf of Aden and threatened other vessels in the Red Sea, underscoring ongoing risks to regional shipping.

Crude Oil - Stats

Crude Oil rose to 75.66 USD/Bbl on August 6, 2026, up 0.59% from the previous day. Over the past month, Crude Oil's price has risen 7.41%, and is up 18.44% 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 August 6 of 2026.

Crude Oil - Forecast

Crude Oil rose to 75.66 USD/Bbl on August 6, 2026, up 0.59% from the previous day. Over the past month, Crude Oil's price has risen 7.41%, and is up 18.44% 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 87.14 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 100.47 in 12 months time.



Price Day Month Year Date
Crude Oil 75.00 -0.219 -0.29% 6.47% 17.41% Aug/06
Brent 79.45 0.002 0% 7.14% 19.60% Aug/06
Natural gas 2.68 -0.0046 -0.17% -17.81% -12.51% Aug/06
Gasoline 2.84 0.0025 0.09% -3.81% 37.21% Aug/06
Heating Oil 3.77 -0.0248 -0.65% 14.23% 66.38% Aug/06
Coal 128.80 -2.05 -1.57% 0.31% 12.49% Aug/05
Ethanol 1.93 -0.0175 -0.90% 0.65% 8.87% Aug/05
Urals Oil 76.24 0.98 1.30% 45.25% 17.36% Aug/05



Related Last Previous Unit Reference
United States API Crude Oil Stock Change 2.69 3.30 BBL/1Million Jul 2026
Saudi Arabia Crude Oil Production 6637.00 7010.00 BBL/D/1K Jun 2026
United States Crude Oil Production 13714.00 13967.00 BBL/D/1K May 2026
Russia Crude Oil Production 9976.61 9976.48 BBL/D/1K Mar 2026
United States Crude Oil Stocks Change 2.48 -7.17 BBL/1Million Jul 2026
United States Weekly Crude Oil Production 13804.00 13796.00 Thousand Barrels Per Day Jul 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
75.66 75.22 147.27 -40.32 1983 - 2026 USD/BBL Daily

News Stream
Oil Holds Decline on Partial Hormuz Reopening
Crude oil traded around $75 per barrel on Thursday after sliding for three straight sessions, as Iran and Oman reached an agreement on a shipping route through the Strait of Hormuz, fueling expectations of increased energy flows from the Middle East. A joint statement from both countries is currently under review and in the final drafting stage, with the proposed route expected to remain operational for two to four months, although Tehran stressed that the agreement does not amount to a full reopening of the strategic waterway. Meanwhile, US officials continued to express confidence that a deal with Iran was nearing, though investors remained cautious about the durability of any lasting peace in the region. Iran-backed Houthi militants in Yemen also claimed they had targeted a Saudi oil tanker in the Gulf of Aden and threatened other vessels in the Red Sea, underscoring ongoing risks to regional shipping.
2026-08-05
Oil Steadies as Markets Await Iran Deal
Crude oil fluctuated below $76 per barrel on Wednesday, after losses of more than 5% in each of the previous two sessions, as investors grew increasingly optimistic that a deal to reopen the Strait of Hormuz could soon be reached. According to Axios, the US, Iran and Oman are close to a 60-day interim agreement to reopen the waterway without tolls, with Washington aiming to announce the deal as early as Wednesday. US President Donald Trump also struck an optimistic tone, saying negotiations with Tehran were moving along very nicely and that more would be known within 48 hours. Meanwhile, Qatar said an interim proposal had been drafted, while reports indicated Iran was considering allowing European countries to clear mines from the strait. Meanwhile, Yemen's Houthis said they had attacked a Saudi vessel in the Red Sea. Still, prices remained well below recent highs
2026-08-05
Crude Oil Rises as Traders Weigh Middle East Developments
Crude oil rose to around $76 per barrel on Wednesday, snapping a two-day decline after Yemen's Houthis said they had attacked a Saudi vessel in the Red Sea. Still, prices remained well below recent highs as investors grew increasingly optimistic that a deal to reopen the Strait of Hormuz could soon be reached. According to Axios, the US, Iran and Oman are close to a 60-day interim agreement to reopen the waterway without tolls, with Washington aiming to announce the deal as early as Wednesday. US President Donald Trump also struck an optimistic tone, saying negotiations with Tehran were moving along very nicely and that more would be known within 48 hours. Meanwhile, Qatar said an interim proposal had been drafted, while reports indicated Iran was considering allowing European countries to clear mines from the strait. Separately, Saudi Arabia reportedly held talks with Yemen's Houthi movement through Omani mediators in an effort to prevent the conflict from escalating.
2026-08-05