Current price of oil as of October 6, 2026

As of 7:30 a.m. Eastern Time today, oil is trading at $101.43 per barrel, based on the Brent benchmark we’ll explain in a bit. That’s $4.38 below yesterday morning’s level and about $35.50 higher than where it stood a year ago. Will oil prices go up? No one can say for sure where oil prices will go next. Many forces shape the market—but at the core, it’s still about supply and demand. When risks like a potential recession or war ramp up, oil prices can…