Oil is trading at $101.61 per barrel using the Brent benchmark as of September 21, 2026 at 9:35 a.m. Eastern Time, down about $2.72 from the previous business day but up approximately $34.68 over the past year. Oil prices depend primarily on supply and demand, as well as geopolitical and economic factors such as wars and recession threats. Crude oil typically accounts for more than half the price at the gas pump, so when oil prices spike, gas prices rise accordingly. The two main benchmarks for oil performance are Brent, the global benchmark, and WTI (West Texas Intermediate), the North American benchmark.
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