LemonTradesOil price
The price of a barrel of crude oil right now: WTI, the US benchmark, and Brent, the global one, with the news moving them.
- Brent crude
- $111.40 −1.30%
- Brent minus WTI
- $8.21
- Natural gas
- $3.048 +9.76%
- This week
- $95.50–$103.68
- 52-week range
- $55.27–$112.95
- This year
- +79.7%
The chart fills in as the desk logs prices.
NYMEX WTI and ICE Brent front-month futures, about 10 minutes delayed. Oil trades Sunday 6 PM to Friday 5 PM ET with a daily hour’s break. Brent’s own page: Brent crude oil.
What’s moving oil
The headlines from the last 24 hours that the LemonTrades desk scored highest for WTI and Brent, with why each one matters.
- 5:02 AMU.S. oil holds above $100, Brent at five-month high as Iran says it’s prepared for warfare
Conflict escalation fears boost crude prices toward fresh multi-month highs.
- 2:41 AMSaudi Aramco Said to Order HQ Evacuation, Oil Prices Set for Weekly Gain
Headquarters evacuation amid Middle East tensions sparks acute oil supply disruption fears.
- Thu 8:00 PMIran Threatens Wider Strikes on Economic and Civilian Targets if U.S. Attacks
Threats against regional economic targets heighten oil infrastructure supply disruption risks.
- Thu 8:00 PMIran war live: Trump hints new strikes, says US knocked ‘hell out’ of Iran
Escalation risks disrupt Middle East crude supply chains and raise prices.
- 4:19 PMOil markets are on edge ahead of the weekend, as midterm elections near and fresh U.S. strikes on Iran are predicted
Risk of Middle East war escalation threatens crude supplies.
- 3:50 PMTrump: We may do another operation against Iran
Risk of confrontation threatens crude flows through the Strait of Hormuz.
- 6:38 AMWTI Climbs Above $101 a Barrel on U.S.-Iran Escalation Fears
Escalation risks disrupt vital Persian Gulf oil shipments.
- 3:16 AMWTI Oil rises beyond $100 amid fresh concerns of supply disruptions
War and supply disruption threats drive strong crude buying.
- 4:56 PMTrump says US may conduct another operation against Iran
Trump said the US may carry out another operation against Iran. Earlier, Iran threatened strikes on economic and civilian targets if the US attacks.
- 5:56 AMTanker with Russian diesel heads to US port after Trump-Putin deal
A ship carrying Russian diesel is signaling a US port as its destination, following a Trump-Putin deal, Bloomberg reports. It is a sign Russian fuel may be flowing to the US again.
- 3:41 AMBrent crude plunges 4.22% in 5 minutes to 109.52
Brent Crude -4.22% in 5 minutes, now 109.52. Likely cause: No clear headline yet. Recent headlines point to rising oil on U.S.-Iran escalation fears, the opposite direction. Weak French and German PMI data does not explain a drop this sharp. (no clear cause)
- 3:08 AMSaudi Aramco reportedly orders headquarters evacuation
Saudi Aramco has reportedly ordered an evacuation of its headquarters, Bloomberg says. It follows the US ordering staff to leave Saudi Arabia amid threats of US action against Iran. Oil is set for a weekly gain.
Today’s oil view from the LemonTrades desk
Bullish lean. Iran escalation risk, Hormuz ship attacks and the US staff exit from Saudi Arabia keep a supply risk premium on crude.
- 100.42 overnight high
- 98.84 overnight low
- 97.72 prior day low
- 110.48 5-day high
What would flip it: Signs of US-Iran talks or de-escalation · Concrete US supply measures under the Defense Production Act
Graded at the 5 PM ET close: right on 1 of the last 1 oil calls. How we grade
A directional bias for the day, not a price target or advice. Members get it every weekday for each market they follow.
The oil price since 2000
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Daily closes of front-month WTI futures. The highest close was $145.29 in Jul 3, 2008; on April 20, 2020, the expiring contract closed at −$37.63, the only time oil has traded below zero.
This week’s oil reports
Nothing big on the calendar for the next week yet.
The API’s inventory estimate comes out on Tuesdays at 4:30 PM ET and the EIA’s official figures on Wednesdays at 10:30 AM ET.
WTI vs Brent
WTI (West Texas Intermediate) is US crude, delivered in Cushing, Oklahoma. Brent is North Sea crude and prices most of the world’s oil. Brent usually costs $3 to $5 more; in 2026 the gap has been far wider, because threats to tankers in the Strait of Hormuz push up seaborne crude more than US oil.
What moves the oil price
- Supply shocks: wars, attacks on tankers and pipelines, sanctions. The Strait of Hormuz carries about a fifth of the world’s oil.
- OPEC+ decisions on how much its members pump.
- US inventories, every Wednesday at 10:30 AM ET.
- Demand: growth in China, the US and Europe, and the season (summer driving, winter heating).
- The dollar: oil is priced in dollars, so a weaker dollar tends to lift it.
What it means at the pump
As a rule of thumb, each $1 a barrel adds about 2.4 cents to a gallon of gasoline, with a lag of a few weeks. Crude is roughly half of what a gallon costs; the rest is refining, distribution and taxes.
Questions
What is the price of a barrel of oil today?
WTI is $103.19 and Brent $111.40 a barrel, updated every minute above.
Why is oil so expensive right now?
Attacks on tankers and threats to shipping through the Strait of Hormuz since the 2026 Iran war have added a large risk premium to oil, especially Brent.
How many gallons are in a barrel of oil?
42 US gallons. Refined, a barrel yields roughly 19 to 20 gallons of gasoline and 11 to 12 of diesel.
How do I trade oil?
Through futures, oil ETFs, options or oil stocks. Start with how to trade oil.
LemonTrades tells you what moved oil, and why, as it happens: tanker attacks, OPEC+ and the weekly inventory report scored for WTI and Brent, ⚡ alerts on sharp moves with the likely cause, and a morning brief. Try LemonTrades free for 3 days, no card needed.
Market news and analysis, not financial advice. AI can misread a headline, so check the source before acting on anything important. Prices and news may be delayed.