Expected to average around $58.15 for the full year 2026 by some analysts, though currently seeing much higher spot prices due to conflict-related supply shut-ins.
Trading at approximately $106.52 as of May 6, 2026. world oil price
Crude oil hit a record all-time high of $410.45 in December 2025 during the height of a global energy crisis. Key Drivers of Price Volatility Expected to average around $58
The is currently defined by a sharp divide between immediate geopolitical shocks and long-term structural shifts. As of early May 2026, the price of Brent crude has seen extreme volatility, recently settling near $106.52 per barrel . While this represents a decrease from even higher peaks earlier in the week, it remains significantly above historical averages due to ongoing regional instability. Current Market Benchmarks (May 2026) Key Drivers of Price Volatility The is currently
The world oil price is influenced by a complex interplay of supply, demand, and geopolitical risk premiums: Crude Oil - Price - Chart - Historical Data - News
Oil prices are primarily tracked through two major benchmarks: (international) and West Texas Intermediate (WTI) (U.S.).