Current price of oil as of November 10, 2026
When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.
According to the latest market data as of November 10, 2026, oil is trading at $92.98 per barrel on the Brent benchmark. This is $4.67 lower than yesterday's opening price and $29 higher than the level one year ago. To put this in context, oil prices have been volatile, with significant drops during the 2020 COVID lockdown and sharp increases during geopolitical tensions like the 1970s Middle East crisis.
The price of oil is influenced by global supply and demand, geopolitical events, and decisions made by organizations like OPEC+. When oil prices rise, gas pump prices typically increase as well, but not always proportionally due to additional costs involved in refining and distributing the fuel. The U.S. Strategic Petroleum Reserve, a stockpile of crude oil, can provide quick relief during emergencies but is not intended to solve long-term price problems.
Oil prices also have a ripple effect on natural gas prices, as higher oil costs can push industries to use more natural gas, increasing demand for that resource.
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