$91.60 Oil Price: Supply and Demand Drive Market Movements
The current price of oil as of August 12, 2026 is $91.60 per barrel, according to Fortune.
This represents a decrease of 94 cents since yesterday morning and an increase of roughly $25 compared to this time last year.
Oil prices are influenced by supply and demand, with various factors affecting the market. While it's impossible to predict future oil price movements with certainty, spikes in prices can be driven by fears of economic slowdown, conflict, or other shocks.