Current price of oil as of Sept. 28, 2026
When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.
On September 28, 2026, oil was trading at $104.46 per barrel, according to the latest data. This represented a $1.71 increase from the previous day and a $37.13 rise over the past year. Oil prices have been volatile in recent years, influenced by factors such as geopolitical tensions, economic conditions, and supply and demand dynamics.
Brent crude oil, a global benchmark, is used to track oil performance, while the U.S. Strategic Petroleum Reserve can provide short-term relief during supply shocks. The relationship between oil and natural gas prices is interconnected, as price changes can lead to shifts in industry practices. Historical trends show that oil prices have experienced significant fluctuations, with events like wars, recessions, and oversupply playing key roles.
The U.S. shale oil production has also impacted oil prices, as increased domestic supply can help mitigate price spikes.
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