Brent Crude Oil Price, April 2026
Brent crude averaged $117.29 per barrel in April 2026, its highest monthly average of the year so far, and WTI averaged $100.32 (EIA spot). Brent spot hit $138.21 on 7 April, its highest since July 2008, the day before a US-Iran ceasefire, and fell to $98.63 on 17 April when Iran declared the Strait of Hormuz open, before rebounding to $124.24 by month-end.
| Benchmark | Average | High | Low | First close | Last close | Change vs prior month-end |
|---|---|---|---|---|---|---|
| Brent (Europe spot FOB) | $117.29 | $138.21 (7 April) | $98.63 (17 April) | $119.56 (1 April) | $124.24 (30 April) | -1.9% |
| WTI (Cushing spot) | $100.32 | $114.58 (7 April) | $85.91 (17 April) | $101.90 (1 April) | $108.64 (30 April) | +5.6% |
Source: U.S. Energy Information Administration (EIA), Europe Brent Spot Price FOB and Cushing, OK WTI Spot Price FOB, daily series (release of 7 October 2026), mirrored by FRED as DCOILBRENTEU and DCOILWTICO. Averages are simple means of the trading days with a price.
All prices on this page are EIA spot assessments: Brent is the physical North Sea price (see Dated Brent) and WTI is the Cushing, Oklahoma spot price. Since the Strait of Hormuz closed in March, physical Brent has often traded far above the front-month ICE Brent futures price quoted in news headlines, so a headline "Brent price" for a given day can be several dollars, at times more than $25, lower than the figures here.
April 2026 in numbers
April had the widest Brent range of any month except March, $39.58. The $138.21 spot close on 7 April is the highest in the EIA's Brent series since July 2008, when the all-time spot high of $143.95 was set. The Brent-WTI spot spread averaged $16.97, the widest monthly average of 2026 so far. Brent spot ended the month -1.9% and WTI +5.6%. No Brent spot prices were published for 3 and 6 April (the Easter holidays in London).
The EIA reports that in early April the physical price rose to a premium of more than $25 a barrel over front-month futures. It attributes this to "extreme market tightness in the very short term", as buyers competed for prompt cargoes to replace barrels stuck behind Hormuz. That is why the high in this table is far above the futures highs reported in the news (see Brent futures).
What moved oil in April 2026
- 1–2 April: escalation. After a televised speech by President Trump on the war, WTI spot jumped 11% on 2 April to $113.23. Brent spot reached $127.61.
- 7–8 April: record, then ceasefire. Brent spot closed at $138.21 on 7 April, its highest since July 2008. On 8 April the US and Iran agreed a two-week ceasefire, conditional on reopening Hormuz. Brent futures fell as much as 17% intraday to about $95 (Bloomberg), which Axios called the largest one-day drop since the 1991 Gulf War.
- 13 April: US blockade of Iranian ports. After talks in Islamabad failed, US Central Command began a blockade of vessels entering or leaving Iranian ports at 10:00 ET on 13 April. Brent futures rose about 7% to above $100 in early trading.
- 17 April: Iran declares Hormuz open. Brent spot fell 15% in one day, from $116.63 to the monthly low of $98.63, and WTI fell to $85.91.
- 22–30 April: disruption persists. Traffic through the strait remained limited, and prices recovered to $124.24 (Brent) and $108.64 (WTI) by 30 April. The World Bank's April Commodity Markets Outlook assumed the most acute disruption would end in May and forecast Brent at an average of $86 for 2026.
Ceasefire swings and the physical premium
April showed how much headline news moved the price: two one-day falls of more than 10% in Brent spot, on 8 and 17 April. Each step towards reopening the strait cut the price sharply. Each setback restored it within days, because physical supply had not yet returned. For how these swings feed into fuel prices, see oil price per barrel, and for current levels the live Brent price.
Daily Brent and WTI prices, April 2026
| Date | Brent | Brent daily change | WTI | Brent minus WTI |
|---|---|---|---|---|
| Wed 1 April | $119.56 | −7.13 | $101.90 | +17.66 |
| Thu 2 April | $127.61 | +8.05 | $113.23 | +14.38 |
| Mon 6 April | n/a | – | $114.01 | – |
| Tue 7 April | $138.21 | +10.60 | $114.58 | +23.63 |
| Wed 8 April | $122.11 | −16.10 | $96.17 | +25.94 |
| Thu 9 April | $119.03 | −3.08 | $99.62 | +19.41 |
| Fri 10 April | $119.07 | +0.04 | $98.34 | +20.73 |
| Mon 13 April | $123.28 | +4.21 | $100.72 | +22.56 |
| Tue 14 April | $118.69 | −4.59 | $93.07 | +25.62 |
| Wed 15 April | $114.93 | −3.76 | $93.04 | +21.89 |
| Thu 16 April | $116.63 | +1.70 | $96.46 | +20.17 |
| Fri 17 April | $98.63 | −18.00 | $85.91 | +12.72 |
| Mon 20 April | $103.40 | +4.77 | $91.06 | +12.34 |
| Tue 21 April | $106.14 | +2.74 | $93.64 | +12.50 |
| Wed 22 April | $113.44 | +7.30 | $94.76 | +18.68 |
| Thu 23 April | $113.25 | −0.19 | $99.27 | +13.98 |
| Fri 24 April | $111.86 | −1.39 | $98.42 | +13.44 |
| Mon 27 April | $113.89 | +2.03 | $99.89 | +14.00 |
| Tue 28 April | $117.62 | +3.73 | $103.45 | +14.17 |
| Wed 29 April | $124.16 | +6.54 | $110.47 | +13.69 |
| Thu 30 April | $124.24 | +0.08 | $108.64 | +15.60 |
Source: U.S. Energy Information Administration (EIA), Europe Brent Spot Price FOB and Cushing, OK WTI Spot Price FOB, daily series (release of 7 October 2026), mirrored by FRED as DCOILBRENTEU and DCOILWTICO. Averages are simple means of the trading days with a price.
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April 2026 oil price FAQ
What was the average Brent price in April 2026?
Brent spot averaged $117.29 per barrel in April 2026, according to the EIA, the highest monthly average of the year to September. WTI averaged $100.32. Prices stayed high because the Strait of Hormuz remained largely closed despite an 8 April ceasefire.
What was the highest Brent price in April 2026?
Brent spot reached $138.21 per barrel on 7 April 2026, the highest daily value in the EIA's series since July 2008. This was the physical (Dated Brent) price. Front-month futures peaked much lower because prompt cargoes traded at a record premium.
Why did oil fall on 8 April 2026?
The US and Iran agreed a two-week ceasefire on 8 April 2026, conditional on reopening the Strait of Hormuz. Brent futures fell as much as 17% intraday to about $95, the largest one-day drop since 1991 according to Axios. Brent spot fell from $138.21 to $122.11.
What was the lowest Brent price in April 2026?
Brent spot fell to $98.63 per barrel on 17 April 2026, the day Iran declared the Strait of Hormuz open (EIA). WTI hit $85.91 the same day. Prices recovered to above $120 by the end of April as shipping stayed disrupted.
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