On August 21, 2026 at 8 a.m. Eastern Time, oil was trading at $95.29 per barrel, with Brent serving as the international benchmark. This price represents a decline of 11 cents compared to the previous day and an increase of more than $27 compared to the same period last year. Oil prices are primarily driven by supply and demand, but are also influenced by concerns about economic recession, conflicts, and large-scale disruptions. Brent, which reflects most of the world’s traded crude, serves as the primary benchmark for evaluating the historical performance of the oil market.
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