The current price of oil as of September 1, 2026 is $94.11 per barrel, based on the Brent benchmark.
This is $1.08 above yesterday's level and about $25.40 higher than where it stood a year ago.
The U.S. Strategic Petroleum Reserve can help cushion the blow when supply shocks send prices soaring, but its primary role is to protect energy security during crises such as sanctions or war.
More on Commodities
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