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Current price of oil as of October 7, 2026
When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.
At 7:15 a.m. Eastern Time today, the price of oil sits at $104.74 per barrel, using Brent as the benchmark (we’ll explain what that means shortly). That’s an increase of $3.31 since yesterday morning and roughly $38.60 more than at this time last year. Will oil prices go up? Nobody can predict the future path of oil prices with certainty. A range of factors influence how oil trades, yet supply and demand remain the main drivers. When fears of economic slowdown, conflict, or similar shocks rise, oil prices…
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