On August 13, 2026, at 6:15 AM ET, oil reached $90.28 per barrel according to the Brent benchmark, marking a $1.32 decrease from the previous day but remaining approximately $24 higher than the previous year. Oil prices remain inherently unpredictable, driven primarily by supply and demand dynamics. Crude oil typically accounts for more than half of the gas pump price. The United States maintains a Strategic Petroleum Reserve as an emergency safety net for critical situations. Historical data shows extreme volatility in the oil market, with significant price swings tied to wars, recessions, and OPEC decisions.
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