Actual
88.920
Daily Change
0.18 0.20%
Monthly
-6.49%
Yearly
47.98%
Q4 Forecast
93.359
Crude Oil - Summary

Crude oil prices hovered above $88 per barrel on Friday after rising in the previous session, as President Donald Trump stated that the US no longer needs a deal with Iran, dampening hopes for a diplomatic resolution to the war. Trump also directed Vice President JD Vance to prioritize domestic matters over negotiations with Tehran. Meanwhile, Iran maintained its position that Washington must lift its naval blockade and sanctions against the country before any direct peace talks can take place. Mohsen Rezaee, secretary of Iran's Supreme National Security Council, further emphasized that Tehran has no intention of removing its enriched nuclear materials from the country. Despite these developments, oil prices remain on track for a second consecutive weekly decline as Middle Eastern crude exports continue to recover. Hopes for a faster resolution to the conflict have also been supported by a Democratic victory in the US midterm elections.

Crude Oil - Stats

Crude Oil rose to 88.92 USD/Bbl on November 13, 2026, up 0.20% from the previous day. Over the past month, Crude Oil's price has fallen 6.49%, but it is still 47.98% 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 November 14 of 2026.

Crude Oil - Forecast

Crude Oil rose to 88.92 USD/Bbl on November 13, 2026, up 0.20% from the previous day. Over the past month, Crude Oil's price has fallen 6.49%, but it is still 47.98% 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 93.36 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 108.90 in 12 months time.



Price Day Month Year Date
Crude Oil 88.92 0.180 0.20% -6.49% 47.98% Nov/13
Brent 96.08 0.260 0.27% -9.41% 49.22% Nov/13
Natural gas 3.24 -0.0980 -2.93% 1.38% -29.00% Nov/13
Gasoline 2.63 -0.0378 -1.42% -19.22% 31.39% Nov/13
Heating Oil 4.31 0.0202 0.47% -12.60% 70.15% Nov/13
Coal 145.25 2.80 1.97% -3.42% 32.59% Nov/12
Ethanol 1.80 0.0425 2.41% -10.77% 4.80% Nov/13
Urals Oil 71.39 -0.79 -1.09% -39.58% 32.70% Nov/12



Related Last Previous Unit Reference
United States API Crude Oil Stock Change 9.00 -5.27 BBL/1Million Nov 2026
Saudi Arabia Crude Oil Production 10563.00 8372.00 BBL/D/1K Oct 2026
Russia Crude Oil Production 8643.00 8681.00 BBL/D/1K Sep 2026
United States Crude Oil Production 13965.00 13946.00 BBL/D/1K Aug 2026
United States Crude Oil Stocks Change 4.66 -0.87 BBL/1Million Nov 2026
United States Weekly Crude Oil Production 14013.00 14003.00 Thousand Barrels Per Day Nov 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
88.92 88.74 147.27 -40.32 1983 - 2026 USD/BBL Daily

News Stream
Oil Holds Advance as Trump Downplays Iran Deal
Crude oil prices hovered above $88 per barrel on Friday after rising in the previous session, as President Donald Trump stated that the US no longer needs a deal with Iran, dampening hopes for a diplomatic resolution to the war. Trump also directed Vice President JD Vance to prioritize domestic matters over negotiations with Tehran. Meanwhile, Iran maintained its position that Washington must lift its naval blockade and sanctions against the country before any direct peace talks can take place. Mohsen Rezaee, secretary of Iran's Supreme National Security Council, further emphasized that Tehran has no intention of removing its enriched nuclear materials from the country. Despite these developments, oil prices remain on track for a second consecutive weekly decline as Middle Eastern crude exports continue to recover. Hopes for a faster resolution to the conflict have also been supported by a Democratic victory in the US midterm elections.
2026-11-12
Crude Oil Rises on Uncertainty Over US-Iran Diplomacy
Crude oil rose to around $89 a barrel on Thursday, extending gains for a second consecutive session and rebounding from a ten-week low of $86 reached on November 10th. Prices climbed after US President Trump declared that the US no longer needs a deal with Iran. The remarks marked a sharp departure from Monday, when Trump described the war as "militarily effectively over" following talks with Qatar's prime minister. Meanwhile, Iran has shown little willingness to soften its negotiating position. Mohsen Rezaee, secretary of Iran's Supreme National Security Council, said Tehran would not remove any enriched nuclear material from the country. Despite the diplomatic uncertainty, Middle Eastern crude supplies have recovered considerably. Saudi Arabia reported a 26% increase in October production, while Iraq also raised output. However, shipments remain dependent on alternative routes, ship-to-ship transfers and military protection.
2026-11-12
Crude Oil Edges Up for 2nd Session
Crude oil rose above $87 a barrel on Thursday, extending gains for a second consecutive session as prices attempted to recover from a ten-week low of $86 on November 10. Investors weighed escalating tensions between Washington and Tehran against signs of recovering supply from Saudi Arabia. President Donald Trump said the US no longer needs a deal with Iran, signalling a shift away from recent diplomatic efforts. Tehran also maintained a hardline position, with senior official Mohsen Rezaee ruling out the removal of any enriched nuclear material from the country. Still, Saudi Arabia reported a 26% increase in oil production in October, bringing output to one of its highest monthly levels in years, while Iraq also raised production to a wartime record. Adding to supply-side pressure, EIA data showed US crude inventories rose by 4.657 million barrels in the week ended November 6, the largest increase since August and a reversal of five consecutive weekly declines.
2026-11-12