Current price of oil as of Sept. 11, 2026
At 9:15 a.m. Eastern Time today, oil was priced at $105.82 per barrel with Brent serving as the benchmark (we’ll explain different benchmarks later in this article). That’s an increase of 62 cents compared with yesterday morning and around $39.25 higher than the price one year ago.
TL;DR
- Oil is priced at $105.82 per barrel as of 9:15 a.m. ET today, up 62 cents from yesterday and $39.25 from a year ago.
- Oil prices are determined by supply and demand, affected by global events and economic conditions.
- Gasoline prices at the pump are influenced by crude oil costs, refining, transportation, taxes, and retail markups.
- The U.S. Strategic Petroleum Reserve is a store of crude oil for energy security and temporary relief during price hikes.
- Oil and natural gas prices are linked, with changes in one affecting the demand for the other.
- Brent crude oil and West Texas Intermediate (WTI) are key benchmarks for oil pricing, with Brent representing global performance.
- Historical oil prices have been volatile, experiencing spikes and crashes due to wars, recessions, supply cuts, and demand fluctuations.
- Factors influencing current oil prices include supply and demand, geopolitical news, OPEC+ decisions, and U.S. administration policies on drilling.
- Shale oil production in the U.S. can increase supply and help prevent significant price spikes.
- High oil prices can contribute to inflation by increasing the cost of energy and goods due to higher shipping expenses.