$110.42 Oil Price as Brent Benchmark Rises Amid Global Supply Concerns
The current price of oil as of September 14, 2026 is $110.42 per barrel, according to Fortune. This represents a $43.30 increase over the past year and a $0.72 rise from yesterday morning.
The Brent benchmark, which is widely used to track global oil performance, has seen significant fluctuations over the years. In the 1970s, prices spiked due to an embargo imposed by Middle Eastern countries during the Yom Kippur War. More recently, prices plummeted in 2020 due to the COVID-19 pandemic.
Oil prices are determined by supply and demand, with geopolitical events and decisions made by OPEC+ also playing a significant role. The U.S. Strategic Petroleum Reserve can help soften price hikes during supply shocks, but it is not a long-term solution.
When oil prices increase, natural gas prices may also rise as industries switch to using more natural gas in their operations.