Oil Prices Slip to $90.28 per Barrel Amid Global Economic Uncertainty
Oil prices have fluctuated in recent times, reaching $90.28 per barrel as of August 13, 2026, according to Fortune. This is a decrease of $1.32 from yesterday morning and an increase of about $24 compared to its price a year ago.
The current price of oil is influenced by various factors, including supply and demand, geopolitical events, and OPEC decisions. While it's difficult to predict the future of oil prices, historical data suggests that they have been affected by wars, recessions, and changes in energy policies.
The Brent benchmark, which measures global oil performance, has seen sharp rises due to factors like wars and supply cuts, as well as steep declines tied to global recessions and oversupply. The U.S. Energy Information Administration uses the Brent benchmark as its primary reference in its Annual Energy Outlook.