As of August 4, 2026, oil is trading at $89.81 per barrel, based on the Brent benchmark.
This is $2.43 above yesterday morning's level and about $20.50 higher than where it stood a year ago.
The price of oil has been influenced by various factors, including supply and demand, wars, recessions, OPEC whims, and shifting energy policies.
More on Commodities
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