Crude Oil Price Today: Live Brent & WTI
Live crude oil prices in US dollars per barrel for the two global benchmarks: Brent, which prices most of the world's oil, and WTI, the US benchmark. Quotes update in real time during market hours.
Live crude oil price chart
Brent (main line) compared with WTI on the same scale. Use the toolbar to switch timeframes from one minute to monthly, or add indicators. For a full-screen view with more tools, open the crude oil price chart page.
Quotes: TradingView TVC:UKOIL (Brent) and TVC:USOIL (WTI). Both track the front-month futures contract and may be delayed by some minutes depending on the data feed.
What the live oil price actually shows
The "price of oil" you see quoted in the news is almost always the price of a front-month futures contract, which is the contract closest to delivery. It is not the price of a barrel sold today. Two contracts dominate:
- Brent, traded on ICE Futures Europe in London. Its price is tied to a basket of North Sea crude grades (Brent, Forties, Oseberg, Ekofisk and Troll), plus US WTI Midland since 2023. Analysts estimate that around two-thirds of internationally traded crude is priced off Brent.
- WTI (West Texas Intermediate), traded on NYMEX (CME Group) in New York. It is physically delivered at Cushing, Oklahoma, and is the reference price for US crude.
Both are quoted in US dollars per barrel. One barrel is 42 US gallons, or about 159 litres. Our oil price per barrel page converts the live price into price per gallon and per litre.
| Benchmark | Exchange / ticker | Delivery or settlement | Typical role |
|---|---|---|---|
| Brent | ICE Futures Europe (B) | Cash-settled against the ICE Brent Index | Global benchmark for Europe, Africa, the Middle East to Europe, and most seaborne crude |
| WTI | NYMEX (CL) | Physical delivery at Cushing, Oklahoma | US benchmark, the most liquid oil futures contract in the world |
| Dubai / Oman | Platts assessment; GME/IFAD Oman and Murban futures | Physical cargo assessments | Prices Middle East crude sold to Asia |
| OPEC Reference Basket | Published by OPEC | Average of member export grades | Indicator used in OPEC reporting |
Brent vs WTI today
Brent usually trades a few dollars above WTI. That gap, the Brent-WTI spread, mostly reflects the cost of moving US crude from inland Cushing to the Gulf Coast and across the Atlantic. Since the US lifted its crude export ban in December 2015, the spread has generally stayed in a range of about $2 to $8 per barrel. When it moves outside that range, it usually means US pipelines or storage are under pressure.
2026 context: After US and Israeli strikes on Iran began on 28 February 2026, tanker traffic through the Strait of Hormuz was effectively halted. Brent spot rose from an average of $70.89 in February to $117.29 in April (EIA), its highest monthly level since 2008. See oil prices in 2026, month by month.
What is moving crude oil prices?
Day to day, oil prices react to a small set of recurring drivers. Our guide to what moves oil prices covers each in depth:
- OPEC+ supply policy. Production quotas set by Saudi Arabia, Russia and their partners are the largest single swing factor.
- Inventories. Weekly US stock data from the API (Tuesday) and EIA (Wednesday) shows whether the market is drawing or building supply.
- Demand signals. These include Chinese imports and refinery runs, US gasoline demand, jet fuel recovery and global GDP data.
- Geopolitics. Disruption risk in the Strait of Hormuz, the Red Sea, Russia, Libya or Venezuela adds a risk premium.
- The US dollar and interest rates. Oil is priced in dollars, so a stronger dollar tends to weigh on prices.
- Positioning. Hedge fund and money-manager positions, reported in the CFTC Commitments of Traders report, can amplify moves.
| Release | When (US Eastern Time) | Why it matters |
|---|---|---|
| API weekly statistical bulletin | Tuesday, 4:30 p.m. | Early read on US crude, gasoline and distillate stocks |
| EIA Weekly Petroleum Status Report | Wednesday, 10:30 a.m. | Official US inventories, production, refinery runs and Cushing stocks |
| Baker Hughes rig count | Friday, 1:00 p.m. | Drilling activity, a leading indicator for US output |
| CFTC Commitments of Traders | Friday, 3:30 p.m. | Speculative positioning in WTI and Brent futures |
| EIA Short-Term Energy Outlook | Monthly, usually the first or second Tuesday | US government supply, demand and price forecasts |
| OPEC Monthly Oil Market Report | Monthly, mid-month | OPEC demand forecasts and secondary-source production figures |
| IEA Oil Market Report | Monthly, mid-month | Global balances, stocks and demand outlook |
Release times shift when US public holidays fall early in the week.
Crude oil price history in brief
Oil is one of the most volatile major commodities. A few reference points show how wide the range has been:
| Event | Date | Price |
|---|---|---|
| All-time high (Brent intraday) | 11 July 2008 | $147.50 |
| WTI settles below zero (May contract) | 20 April 2020 | −$37.63 |
| Post-invasion spike (Brent intraday) | 7 March 2022 | ~$139 |
| Brent annual average | 2022 | $100.93 |
| 2026 high so far (Brent spot, EIA) | 7 April 2026 | $138.21 |
| Brent annual average | 2025 | $69.14 |
Annual averages: U.S. Energy Information Administration spot price series. See the full oil price history.
Explore crude oil prices
Brent crude oil price
Live Brent quote, chart and how the North Sea benchmark is set.
WTI crude oil price
Live WTI quote, Cushing delivery and US market drivers.
Crude oil price chart
Full-size live chart with indicators and long-term history.
Oil price per barrel
Barrel price converted to gallons and litres, with a calculator.
Oil price news today
Live headlines and the scheduled data that moves the market.
Brent crude oil futures
Contract specs, expiry rules and the forward curve.
Crude oil price FAQ
What is the crude oil price today?
The live quotes at the top of this page show today's Brent and WTI crude oil prices in US dollars per barrel. They track the front-month futures contracts on ICE (Brent) and NYMEX (WTI) and update continuously while the market is open.
Is the oil price shown live?
Yes. The quotes and charts are streamed from TradingView. Depending on the data feed, futures-based quotes can be delayed by a few minutes. They are suitable for tracking the market, not for order execution.
Why are there two oil prices, Brent and WTI?
They are different crude streams delivered in different places. Brent reflects seaborne North Sea crude and is the global reference. WTI reflects light sweet crude delivered inland at Cushing, Oklahoma, and is the US reference. Brent usually trades a few dollars higher.
What currency is crude oil priced in?
Crude oil is priced in US dollars per barrel worldwide. Buyers in other currencies are exposed to exchange rate moves as well as the oil price itself.
When is the oil market open?
Brent futures trade on ICE from 01:00 to 23:00 London time, Monday to Friday. WTI futures trade on CME Globex from 6:00 p.m. Sunday to 5:00 p.m. Friday (US Eastern Time), with a daily one-hour break from 5:00 to 6:00 p.m.
How much is a barrel of oil in litres and gallons?
One barrel equals 42 US gallons or 158.987 litres. Divide the barrel price by 42 for the price per gallon of crude, or by 159 for the price per litre.