Current price of oil as of September 10, 2026
When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.
On September 10, 2026, the price of oil surpassed $105.20 per barrel according to the Brent benchmark, a jump of $3.15 from the previous day and $37.30 compared to the same time a year ago. Oil prices per barrel have seen significant changes over time - they were $102.05 a year ago, $87.16 one month ago, and $67.91 a year prior to that. Comparing prices now to past data, oil has increased drastically, reflecting a 20.69% rise from a month ago and a 54.91% increase from a year ago.
Oil prices are highly susceptible to changes depending on market factors like supply and demand, geopolitical events, and economic conditions. The U.S. Strategic Petroleum Reserve, a reserve of crude oil, can provide a safety net during emergencies, but it's not a long-term solution. Oil and natural gas prices are closely linked; an increase in oil prices can lead to more demand for natural gas in certain industries, thus affecting natural gas prices too.
The U.S. Energy Information Administration primarily uses the Brent benchmark to track oil trends globally, as it reflects the majority of the world's traded crude. Over decades, oil prices have fluctuated wildly due to wars, recessions, shifts in OPEC policies, and various other factors. Despite its volatile history, oil remains a crucial fuel powering global economies, influencing inflation and driving up the cost of everyday goods and services.
Written by urgent.news from Fortune's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
