Current price of oil as of October 15, 2026

By 7:15 a.m. Eastern Time today, oil had reached $106.67 per barrel, measured using the Brent benchmark. That’s $2.03 less than it cost yesterday morning and about $44 above its price a year earlier. Will oil prices go up? Oil prices are inherently unpredictable. While many variables come into play, the basic push and pull of supply and demand is what ultimately matters. In times of heightened concern about recession, war, or other major disruptions, oil can swing suddenly. Each gallon you…