WTI crude futures pared early gains to trade below $95 a barrel, taking a breather after a 5% rally this week. Traders continue to assess the conflict with Iran, with no signs of de-escalation, as well as the effectiveness of the US administration’s efforts to cool energy prices. Washington said it would temporarily allow countries to purchase Russian oil currently stranded at sea in an effort to keep a lid on rising energy costs, expanding a temporary waiver granted last week to India. US Treasury Secretary Scott Bessent also called for an international coalition to escort tankers through the Strait of Hormuz “as soon as it is militarily possible”. Earlier in the week, the IEA announced a historic release of 400 million barrels from strategic reserves, though the measure has done little to ease prices. Air strikes in the Middle East continue to disrupt production, while the Strait of Hormuz remains closed.

Crude Oil fell to 93.44 USD/Bbl on March 13, 2026, down 2.40% from the previous day. Over the past month, Crude Oil's price has risen 49.91%, and is up 39.08% 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 March 13 of 2026.

Crude Oil fell to 93.44 USD/Bbl on March 13, 2026, down 2.40% from the previous day. Over the past month, Crude Oil's price has risen 49.91%, and is up 39.08% 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 106.28 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 118.75 in 12 months time.



Price Day Month Year Date
Crude Oil 94.23 -1.497 -1.56% 51.18% 40.27% Mar/13
Brent 99.56 -0.902 -0.90% 44.94% 41.06% Mar/13
Natural gas 3.15 -0.0835 -2.58% 3.91% -23.26% Mar/13
Gasoline 2.93 -0.0301 -1.02% 53.61% 36.60% Mar/13
Heating Oil 3.84 -0.0551 -1.41% 60.79% 77.45% Mar/13
Coal 138.75 3.85 2.85% 18.89% 37.31% Mar/12
Ethanol 1.87 -0.0025 -0.13% 11.62% 7.31% Mar/12
Urals Oil 89.12 7.48 9.16% 60.98% 42.27% Mar/12



Related Last Previous Unit Reference
United States API Crude Oil Stock Change -1.70 5.60 BBL/1Million Mar 2026
Saudi Arabia Crude Oil Production 10100.00 10084.00 BBL/D/1K Jan 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 3.82 3.48 BBL/1Million Mar 2026
United States Weekly Crude Oil Production 13678.00 13696.00 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
93.44 95.73 410.45 -40.32 1983 - 2026 USD/BBL Daily

News Stream
Oil Prices Ease, US Eases Russian Oil Sanctions
WTI crude futures pared early gains to trade below $95 a barrel, taking a breather after a 5% rally this week. Traders continue to assess the conflict with Iran, with no signs of de-escalation, as well as the effectiveness of the US administration’s efforts to cool energy prices. Washington said it would temporarily allow countries to purchase Russian oil currently stranded at sea in an effort to keep a lid on rising energy costs, expanding a temporary waiver granted last week to India. US Treasury Secretary Scott Bessent also called for an international coalition to escort tankers through the Strait of Hormuz “as soon as it is militarily possible”. Earlier in the week, the IEA announced a historic release of 400 million barrels from strategic reserves, though the measure has done little to ease prices. Air strikes in the Middle East continue to disrupt production, while the Strait of Hormuz remains closed.
2026-03-13
Oil Holds Gains on Iran Rhetoric
WTI crude futures traded around $95 per barrel on Friday after a sharp two-day rally, as Iran’s new Supreme Leader Mojtaba Khamenei pledged to keep the Strait of Hormuz effectively shut. He also warned that Iran may open additional fronts in the conflict if the US and Israel continue their attacks, while US President Donald Trump said preventing Iran from obtaining nuclear weapons and posing a threat to the Middle East is more important to him than the cost of oil. Tankers have been unable to load cargo from the Gulf since the conflict began earlier this month, effectively removing 20% of global trade and forcing GCC members to cut production by 10 million barrels per day as storage capacity filled up. The IEA said the disruption was the largest in oil market history, prompting its members to agree on a 400 million barrel release from strategic stockpiles.
2026-03-12
WTI Crude Extends Surge
WTI oil futures surged further to test the $97 per barrel mark on Thursday on risks that seaborne oil supply from the Persian Gulf is likely to remain halted for longer. The new Iranian Supreme Leader Mojtaba Khamenei stated that the Strait of Hormuz should stay closed in his first public statement, maintaining Tehran's defiant rhetoric and extending bets on the duration of supply disruptions after multiple tankers near the chokepoint were hit the IRGC overnight. The statement coincided with strikes of increasing intensity between Iran, Israel, and GCC members. Tankers have been unable to take deliveries from the Gulf since the start of the conflict this month, effectively removing 20% of global trade and driving GCC members to cut production by 10 million barrels per day as storage capacity was reached. The IEA stated that the disruption was the largest in the oil market in history, driving its members to agree on a 400 million barrel release of strategic stockpiles.
2026-03-12