As of August 25, 2026 at 8 a.m. Eastern Time, oil is trading at $90.21 per barrel based on the Brent benchmark, down $3.91 from the previous day but $21.40 higher year-over-year. Brent crude is the main global oil benchmark while WTI serves as North America’s reference. Crude oil accounts for more than half of gas pump prices. Oil prices are shaped by supply and demand dynamics, geopolitical events, OPEC decisions and the role of the U.S. Strategic Petroleum Reserve. Over several decades, oil prices have experienced significant volatility driven by wars, recessions and shifting energy policies.
Source: Read the original article
