{
  "id": 15893460,
  "title": "Current price of oil as of October 21, 2026",
  "url": "https://urgent.news/2026/10/21/current-price-of-oil-as-of-october-21-2026",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-21T12:00:10.000Z",
  "source": {
    "name": "Fortune",
    "slug": "fortune",
    "url": "https://fortune.com/article/price-of-oil-10-21-2026/"
  },
  "original_language": "en",
  "account": "At 8 a.m. Eastern Time on October 21, 2026, the price of oil was $110.74 per barrel, according to the benchmark known as Brent. This represents a decrease of $2.11 from yesterday's morning rate and roughly $49 more than this time last year. Comparatively, oil cost $112.85 per barrel yesterday, $104.61 a month ago, and $61.75 a year ago. This equates to a change of -1.86% from yesterday, +5.85% from a month ago, and +79.33% from a year ago.\n\nOil prices are subject to a wide range of influences, with supply and demand standing out as the primary drivers. Factors such as fears of economic slowdown, conflicts, or similar shocks can cause sharp fluctuations in oil prices. Oil prices ultimately affect the cost of gasoline at the pump, with crude oil being the primary driver, typically accounting for over half of each gallon’s cost. The price at the pump also includes refining, distribution, taxes, and the profit from the neighborhood station.\n\nThe U.S. Strategic Petroleum Reserve, a stockpile of crude oil reserved for emergencies, is designed to ensure energy security during disruptions such as sanctions, severe storms, or war. Though not a long-term solution, it provides immediate support to consumers and critical industries during supply disruptions.\n\nOil prices and natural gas prices are closely related. When oil prices rise, some industries may substitute natural gas for certain segments of their operations, increasing the demand for natural gas. Oil prices have been volatile over history, influenced by wars, recessions, and shifts in supply. The Brent benchmark, representing global oil performance, has experienced significant fluctuations, including a sharp drop during the Yom Kippur War and subsequent increases tied to global demand and recession-linked collapses.",
  "summary": "When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}