Oil price today: live Brent and WTI crude oil prices per barrel
The prices at the top of this page are live quotes for the two most widely followed crude oil benchmarks, Brent and WTI (West Texas Intermediate), in US dollars per barrel. They update automatically while the market is open, and the chart shows how the price of oil has moved over the last day, month, year or five years. Below, you'll find the latest official spot prices from the US Energy Information Administration, updated every week.
Official Brent and WTI spot prices
Updated
On Tuesday 27 October 2026, Brent crude closed at $123.10 a barrel and WTI at $103.37, a gap of $19.73. Over the past week, Brent rose 6.8% and WTI fell 4.2%.
- Brent
- $123.10
- ▲ $7.88 (6.8%) in a week
- WTI
- $103.37
- ▼ $4.52 (4.2%) in a week
- Brent–WTI spread
- $19.73
- $7.33 a week earlier
| Date | Brent | WTI | Spread |
|---|---|---|---|
| $123.10 | $103.37 | $19.73 | |
| $128.12 | $105.25 | $22.87 | |
| $128.30 | $109.72 | $18.58 | |
| $125.39 | $104.27 | $21.12 | |
| $117.37 | $103.95 | $13.42 | |
| $115.22 | $107.89 | $7.33 | |
| $118.82 | $110.01 | $8.81 | |
| $119.33 | $108.21 | $11.12 | |
| $126.35 | $104.71 | $21.64 | |
| $126.55 | $96.34 | $30.21 |
| Week ending | Brent | WTI |
|---|---|---|
| $121.02 | $107.17 | |
| $125.59 | $99.93 | |
| $127.43 | $96.88 | |
| $120.03 | $98.07 | |
| $117.08 | $93.57 | |
| $124.15 | $103.54 |
Source: U.S. Energy Information Administration, spot prices to 27 October 2026; original data: Refinitiv, an LSEG business. EIA publishes these official spot prices once a week, on Wednesdays, so they run a few days behind the live prices at the top of the page. This section updates automatically the next morning.
Brent vs WTI: what is the difference?
Brent is crude from oil fields in the North Sea. It is traded on ICE Futures Europe in London and is the reference price for most of the oil bought and sold around the world, including crude from Europe, Africa and the Middle East. WTI is light, sweet crude produced in the United States and delivered at Cushing, Oklahoma, and is traded on NYMEX in New York. When people talk about "the oil price" in the news, they usually mean one of these two. Brent normally trades a few dollars above WTI because it is easier to ship to buyers worldwide; that gap is called the Brent–WTI spread.
What moves the price of oil?
Oil prices change every minute because of supply and demand. On the supply side, the biggest factors are production decisions by OPEC+ countries such as Saudi Arabia and Russia, output from US shale fields, and disruptions caused by wars, sanctions, storms or pipeline outages. On the demand side, the price follows the health of the world economy, especially China and the United States, as well as the season: demand for gasoline peaks in summer and for heating oil in winter. Weekly inventory data matters too: the US Energy Information Administration reports changes in US crude stocks every Wednesday, and a large rise or fall can move prices within seconds. Because oil is priced in dollars, a stronger dollar tends to push the oil price down, and a weaker dollar tends to push it up.
How the oil price is quoted
Crude oil is priced in US dollars per barrel. One barrel is 42 US gallons, or about 159 litres. The prices on this page follow the nearest-month futures contract, which is what most news reports and charts use. Oil trades almost 24 hours a day from Sunday evening to Friday evening, with a short daily break, so the price you see on a weekend is the last price from Friday.
Questions
What is the price of oil today?
The live Brent and WTI prices are shown at the top of this page, with the change since the previous close. The latest official spot prices from the US Energy Information Administration were $123.10 a barrel for Brent and $103.37 for WTI, on 27 October 2026.
Why is the official spot price different from the live price?
The live prices follow futures contracts for oil delivered in the coming weeks. The EIA figures are spot prices for physical crude delivered now. In calm markets the two are usually close, but when supply is tight, physical cargoes can trade well above futures.
Why is Brent more expensive than WTI?
Brent is produced at sea and can be loaded straight onto tankers for buyers anywhere, while WTI has to travel by pipeline from inland Oklahoma to the coast before it can be exported. That extra transport cost usually keeps WTI a few dollars cheaper.
How many litres are in a barrel of oil?
About 159 litres (42 US gallons).
How much will my trip cost in fuel?
Use our fuel cost calculator. Enter the distance, your car's fuel efficiency and the price you pay, in any currency, miles or km. It also shows this week's US average gas price.
How much oil is in the US emergency reserve?
See our Strategic Petroleum Reserve tracker for this week's level, how many days it would last and how long it would take to refill.
How much oil does the US use and export?
See where US oil goes: how much the US produces, imports, uses and exports each day, and what it becomes.
Where does the US buy its oil from?
Mostly from Canada, followed by countries such as Mexico, Saudi Arabia, Iraq and Brazil. See our map of US crude oil imports by country and port.
Live prices are OANDA's Brent and WTI quotes via TradingView. They track the nearest-month futures closely but are not official ICE or NYMEX prices or settlements. Official spot prices are from the U.S. Energy Information Administration. See how this site works. For information only, not investment advice.