Current price of oil as of November 6, 2026
Fortune · Joseph Hostetler ·
When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.
At 7:15 a.m. Eastern Time today, oil was priced at $102.05 per barrel with Brent serving as the benchmark (we’ll explain different benchmarks later in this article). That’s an increase of $2.53 compared with yesterday morning and around $38 higher than the price one year ago.
Will oil prices go up?
It’s impossible to forecast oil prices with detailed precision. Many different elements affect the market, but ultimately it boils down to supply and demand. When worries about economic recession, war, and other large-scale disruptions increase, oil’s path can shift fast.