Brent Crude Oil Price, October 2026 (Live and Daily)
Month to date as of 13 October 2026, Brent spot has averaged $125.32 per barrel and WTI $97.51, based on EIA data through 6 October. Brent spot hit $135.51 on 2 October, while front-month Brent futures traded near $106 on 13 October. The live quote below shows the current futures price.
| Benchmark | Average | High | Low | First close | Last close | Change vs prior month-end |
|---|---|---|---|---|---|---|
| Brent (Europe spot FOB) | $125.32 | $135.51 (2 October) | $114.82 (1 October) | $114.82 (1 October) | $125.44 (6 October) | +8.2% |
| WTI (Cushing spot) | $97.51 | $99.77 (1 October) | $96.13 (5 October) | $99.77 (1 October) | $96.24 (6 October) | -1.0% |
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.
October 2026 so far
The EIA's latest daily release (7 October 2026) covers 4 trading days, from 1 to 6 October. The next release is due on 15 October, and this page will be updated then. Brent spot opened the month at $114.82 and jumped to $135.51 on 2 October. The physical premium widened sharply: the Brent-WTI spot spread averaged $27.81 over the four days, against $16.85 in September. Nikkei Asia, citing LSEG assessments, reported that Dated Brent passed $150 in early October and that its premium over futures exceeded $50, the widest on record. Assessments differ between price agencies, so these figures do not match the EIA series exactly.
Futures have moved much less. CNBC reported that Brent futures closed at $102.31 on 1 October, and TradingView showed front-month Brent near $106 on 13 October. For futures see Brent crude oil futures, and for the physical market Brent spot price.
What moved oil in October 2026
- 1 October: third aircraft carrier. Brent futures rose 4.4% to $102.31 after reports that the US was sending a third aircraft carrier strike group to the Middle East (CNBC).
- 28 September – 2 October: tanker attacks. Reports counted about a dozen attacks on tankers near Hormuz in five days. Brent spot rose 18% on 2 October, from $114.82 to $135.51, as buyers paid up for prompt cargoes.
- 6 October: EIA raises its forecast. The October STEO raised the fourth-quarter Brent forecast by $14 to $105/b and assumed Middle East flows stay constrained through the end of 2026.
- 8 October: more attacks, Gulf of Mexico storm. Oil rose about 4% on reports of more frequent Iranian attacks on tankers, while US Gulf Coast producers shut in output ahead of a storm.
- 12 October: Saudi and tanker attacks. Brent futures traded near $106.80 on the morning of 12 October after attacks on Saudi Arabia and on tankers near Hormuz, outweighing news of a proposed Russia-Ukraine energy ceasefire.
What to watch for the rest of October
The main variables are the status of the Strait of Hormuz and the US-Iran talks, any further attacks on Saudi export routes, and the size of the physical premium over futures. Market reports in early October estimated that Gulf crude exports had recovered to about 91% of pre-war levels by early October, but refined product exports to only about 60%, which keeps diesel and heating oil tight. Follow daily coverage on oil price news and the live Brent crude oil price.
Daily Brent and WTI prices, October 2026
| Date | Brent | Brent daily change | WTI | Brent minus WTI |
|---|---|---|---|---|
| Thu 1 October | $114.82 | −1.09 | $99.77 | +15.05 |
| Fri 2 October | $135.51 | +20.69 | $97.89 | +37.62 |
| Mon 5 October | $125.51 | −10.00 | $96.13 | +29.38 |
| Tue 6 October | $125.44 | −0.07 | $96.24 | +29.20 |
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.
Previous and next month
← September 2026
Brent and WTI averages, highs, lows and drivers for September.
All of 2026
Monthly averages for every month of 2026 in one table.
October 2026 oil price FAQ
What is the Brent crude oil price in October 2026?
Front-month Brent futures traded near $106 per barrel on 13 October 2026; the live quote at the top of this page shows the current price. EIA Brent spot, a physical price, averaged $125.32 for 1–6 October because prompt cargoes traded at a large premium to futures.
What is the highest Brent price in October 2026 so far?
Brent spot closed at $135.51 per barrel on 2 October 2026, according to the EIA, up 18% in one day as tanker attacks near Hormuz intensified. In futures, Brent closed at $102.31 on 1 October and traded near $106 on 13 October.
Why is Brent spot so much higher than Brent futures?
Spot (Dated Brent) prices cargoes loading in the next 10 days to one month, while futures price later months. With Gulf flows constrained, refiners pay a large premium for barrels available now. The EIA saw a premium of more than $25 in April, and reports put it above $50 in early October 2026.
What does the EIA forecast for oil prices in late 2026?
In its Short-Term Energy Outlook of 6 October 2026, the EIA forecasts Brent spot to average $105 per barrel in the fourth quarter of 2026, $96 for 2026 as a whole and $84 in 2027. It assumes Middle East flows stay constrained through the end of 2026.
Related pages
2026
Brent and WTI crude oil prices in 2026 month by month, with averages, highs and lows and the events driving oil this year, updated monthly.
Brent Crude Oil Price
Current Brent crude oil price live in USD per barrel, with a real-time chart, ICE Brent contract facts and what is driving today's move.
WTI Crude Oil Price
Current WTI crude oil price live in USD per barrel, with a real-time chart, NYMEX contract facts, Cushing delivery and key US drivers.
Brent vs WTI
Brent vs WTI compared: live prices, why Brent trades at a premium, quality and delivery differences, and how the spread has moved since 2010.