Current price of oil as of November 9, 2026
When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.
As of November 9, 2026, oil was trading at $97.65 per barrel, according to the latest benchmark, Brent crude. This represented a decrease of $2.66 from the previous day and a significant rise of $33.50 over the past year, marking an 52.22% increase. The price of oil yesterday stood at $100.31, down 2.65% from the previous day, and one month ago, it was $106.94, a 8.68% decline.
Looking back to a year prior, the price was $64.15, showing a substantial surge of 52.22%. Predicting future oil trends is a challenging task, with numerous factors influencing the market, primarily driven by supply and demand. Events such as economic downturns, conflicts, and geopolitical tensions can lead to rapid shifts in oil prices.
The price of oil is not just the crude oil itself, but also includes various components like refineries, wholesalers, taxes, and local gas station markups. These factors collectively play a crucial role in determining the final price at the gas pump, with crude oil typically accounting for more than half of the price per gallon.
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