Actual
89.332
Daily Change
-1.78 -1.95%
Monthly
-3.98%
Yearly
44.81%
Q4 Forecast
95.282
Crude Oil - Summary

Crude oil traded near $89 per barrel on Tuesday after declining for two consecutive sessions, pressured by signs that Middle East crude exports are recovering toward pre-war levels. JPMorgan said crude shipments have rebounded to 17.5 million barrels a day, or 98% of pre-war levels, while product flows such as diesel and gasoline reached 3 million barrels a day, or 58%. Gulf producers are moving larger volumes through the Strait of Hormuz despite elevated shipping risks, with Iraq seeking to hire additional vessels to transport its cargoes through the waterway. Kuwait also said it is pumping oil at around 75% of the level seen before the Iran war. In addition, Saudi Arabia sharply reduced the price of its flagship crude grade for Asian buyers as supply flows improved, further signaling a loosening market. Meanwhile, investors are awaiting the US EIA’s Short-Term Energy Outlook, due later today, for fresh insights into the US energy market.

Crude Oil - Stats

Crude Oil fell to 89.20 USD/Bbl on October 6, 2026, down 2.10% from the previous day. Over the past month, Crude Oil's price has fallen 4.12%, but it is still 44.60% 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 6 of 2026.

Crude Oil - Forecast

Crude Oil fell to 89.20 USD/Bbl on October 6, 2026, down 2.10% from the previous day. Over the past month, Crude Oil's price has fallen 4.12%, but it is still 44.60% 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 95.28 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 109.20 in 12 months time.



Price Day Month Year Date
Crude Oil 89.33 -1.778 -1.95% -3.98% 44.81% Oct/06
Brent 100.35 -1.901 -1.86% 3.28% 53.27% Oct/06
Natural gas 3.07 0.0365 1.20% 5.33% -8.50% Oct/06
Gasoline 3.23 -0.0862 -2.60% -0.81% 70.05% Oct/06
Heating Oil 4.51 0.0127 0.28% -1.18% 101.12% Oct/06
Coal 150.00 1.05 0.70% 1.52% 43.20% Oct/05
Ethanol 2.00 -0.0250 -1.24% -2.09% 5.00% Oct/05
Urals Oil 114.76 9.21 8.73% 32.36% 90.09% Oct/02



Related Last Previous Unit Reference
United States API Crude Oil Stock Change 1.02 1.79 BBL/1Million Sep 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 0.92 2.97 BBL/1Million Sep 2026
United States Weekly Crude Oil Production 13955.00 13939.00 Thousand Barrels Per Day Sep 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
89.20 91.11 147.27 -40.32 1983 - 2026 USD/BBL Daily

News Stream
Oil Holds Losses as Mideast Exports Recover
Crude oil traded near $89 per barrel on Tuesday after declining for two consecutive sessions, pressured by signs that Middle East crude exports are recovering toward pre-war levels. JPMorgan said crude shipments have rebounded to 17.5 million barrels a day, or 98% of pre-war levels, while product flows such as diesel and gasoline reached 3 million barrels a day, or 58%. Gulf producers are moving larger volumes through the Strait of Hormuz despite elevated shipping risks, with Iraq seeking to hire additional vessels to transport its cargoes through the waterway. Kuwait also said it is pumping oil at around 75% of the level seen before the Iran war. In addition, Saudi Arabia sharply reduced the price of its flagship crude grade for Asian buyers as supply flows improved, further signaling a loosening market. Meanwhile, investors are awaiting the US EIA’s Short-Term Energy Outlook, due later today, for fresh insights into the US energy market.
2026-10-05
Crude Oil Falls as Supply Pressures Ease
Crude oil fell below $90 a barrel on Monday, with markets balancing easing supply pressures against renewed geopolitical risks. Prices came under pressure after Saudi Aramco cut the November selling price of Arab Light to Asian buyers to $5 a barrel below the regional benchmark, a deeper discount than the $2 offered for October. The move suggests stronger competition for market share as oil flows through the Strait of Hormuz recover, while the G7’s latest emergency stockpile release is also weighing on prices. However, supply concerns remain significant. Saudi Arabia’s East-West pipeline continues to operate normally after reports of a fresh attack had briefly raised fears of another disruption. Meanwhile, OPEC+ agreed to leave production quotas unchanged next month.
2026-10-05
Crude Oil Slips as Supply Outlook Improves
Crude oil fell to around $90 per barrel on Monday, extending losses as signs of increasing global supply outweighed concerns over persistent geopolitical risks in the Middle East. On Friday, G7 countries agreed to release 100 million barrels of crude and diesel from emergency reserves while pledging not to impose restrictions on energy exports. Major OPEC+ members also agreed over the weekend to keep production quotas unchanged next month amid prolonged supply disruptions caused by the Middle East conflict. Meanwhile, data showed Persian Gulf crude exports exceeded pre-war levels on four of the seven days during the final week of September, despite disruptions in the Strait of Hormuz and the ongoing US-Iran conflict. In Yemen, Saudi-backed forces launched a full-scale military operation to retake areas controlled by the Houthis following weeks of escalating tensions between the Iran-backed group and Saudi Arabia.
2026-10-05