WTI crude oil futures rose more than 3% on Thursday, reclaiming levels above $100 per barrel and halting a two-day decline, as markets digested remarks from President Trump on the Iran conflict. Trump said the US is on track to achieve its military objectives within the next two to three weeks, warning that the campaign will target Iran “extremely hard” and restore it “to the stone ages.” While his comments suggested a potential escalation of military operations, he also indicated that diplomatic discussions are ongoing. The conflicting statements raised concerns over the uncertainty of a swift resolution and fears of further damage to energy infrastructure. Meanwhile, Fatih Birol, Executive Director of the International Energy Agency, warned that some countries could face energy rationing as the month’s oil supply shock intensifies. Elsewhere, US crude inventories rose by 5.5 million barrels to 461.6 million last week, well above market forecasts.

Crude Oil rose to 103.50 USD/Bbl on April 2, 2026, up 3.37% from the previous day. Over the past month, Crude Oil's price has risen 38.81%, and is up 54.59% 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 410.45 in December of 2025. Crude Oil - data, forecasts, historical chart - was last updated on April 2 of 2026.

Crude Oil rose to 103.50 USD/Bbl on April 2, 2026, up 3.37% from the previous day. Over the past month, Crude Oil's price has risen 38.81%, and is up 54.59% 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 106.45 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 113.72 in 12 months time.



Price Day Month Year Date
Crude Oil 103.30 3.176 3.17% 38.54% 54.29% Apr/02
Brent 104.89 3.727 3.68% 28.85% 49.54% Apr/02
Natural gas 2.85 0.0314 1.11% -6.67% -31.12% Apr/02
Gasoline 3.21 0.1136 3.67% 30.42% 48.70% Apr/02
Heating Oil 4.26 0.2010 4.95% 33.60% 95.31% Apr/02
Coal 137.20 -5.25 -3.69% 6.60% 35.84% Apr/01
Ethanol 1.97 -0.0350 -1.75% 8.84% 7.95% Apr/01
Urals Oil 123.45 7.47 6.44% 97.46% 76.61% Mar/31



Related Last Previous Unit Reference
United States API Crude Oil Stock Change 10.26 2.30 BBL/1Million Mar 2026
Saudi Arabia Crude Oil Production 10111.00 10100.00 BBL/D/1K Feb 2026
United States Crude Oil Production 13655.00 13788.00 BBL/D/1K Dec 2025
Russia Crude Oil Production 10056.00 10074.00 BBL/D/1K Nov 2025
United States Crude Oil Stocks Change 5.45 6.93 BBL/1Million Mar 2026
United States Weekly Crude Oil Production 13657.00 13668.00 Thousand Barrels Per Day Mar 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
103.50 100.12 410.45 -40.32 1983 - 2026 USD/BBL Daily

News Stream
Oil Rises After Trump’s Address
WTI crude oil futures rose more than 3% on Thursday, reclaiming levels above $100 per barrel and halting a two-day decline, as markets digested remarks from President Trump on the Iran conflict. Trump said the US is on track to achieve its military objectives within the next two to three weeks, warning that the campaign will target Iran “extremely hard” and restore it “to the stone ages.” While his comments suggested a potential escalation of military operations, he also indicated that diplomatic discussions are ongoing. The conflicting statements raised concerns over the uncertainty of a swift resolution and fears of further damage to energy infrastructure. Meanwhile, Fatih Birol, Executive Director of the International Energy Agency, warned that some countries could face energy rationing as the month’s oil supply shock intensifies. Elsewhere, US crude inventories rose by 5.5 million barrels to 461.6 million last week, well above market forecasts.
2026-04-02
WTI Eases Further Ahead of President Trump Address
WTI crude futures hovered near $98.82 per barrel on Thursday, extending their recent retreat as hopes of de-escalation in the Iran conflict, now in its fifth week, gained traction, with the White House facing growing pressure to ease tensions. President Trump said the US could halt military strikes within two to three weeks, while keeping the option for limited “spot” attacks. Earlier, Trump stated Iran had sought a ceasefire but stressed any deal would require Tehran to stop blocking the Strait of Hormuz, a claim Iran denied. Markets now await his national address for further clarity. Meanwhile, Fatih Birol of the International Energy Agency warned disruptions could intensify in April, with any prolonged closure of the Strait curbing flows and weighing on Europe. Elsewhere, US crude stocks jumped 5.5 million barrels to 461.6 million in the week ended March 27, far above forecasts and marking a sixth straight rise, highlighting ample supply.
2026-04-01
Crude Oil Drops on Peace Optimism
WTI crude futures settled at $99.60 per barrel on Wednesday as growing optimism for a resolution to the conflict with Iran pulled prices lower to start the new month. President Donald Trump suggested US military forces could leave the region within two or three weeks while confirming that Iran’s president has requested a ceasefire. Despite these gains, the White House maintained a firm stance noting that a ceasefire would only be considered once the Strait of Hormuz is open and secure for global shipping. Elsewhere, commercial crude stocks surged by 5.5 million barrels to 461.6 million in the week ended March 27 which far exceeded analyst expectations and marked the sixth consecutive weekly increase. This domestic surplus was driven by a drop in refinery utilization to 92.1% and a decrease in crude runs of 219,000 barrels per day. The strategic waterway remains a critical focus for energy markets after oil funds saw record trading volumes in March.
2026-04-01