As of September 14, 2026 at 9 a.m. Eastern Time, oil trades at $110.42 per barrel using the Brent benchmark, marking a 79-cent increase from the previous day and approximately $43.30 rise over the past year. Oil prices depend mainly on supply and demand, as well as geopolitical factors, OPEC decisions and current energy policies. Crude oil typically accounts for more than half the price at the gas pump, meaning any spike in oil prices directly affects consumers. The U.S. Strategic Petroleum Reserve can serve as an emergency tool to mitigate price surges during supply shocks, but it is not a long-term solution. Historically, oil has experienced significant volatility due to wars, global recessions, OPEC decisions and evolving energy policies.
Source: Read the original article
