LIVE OIL PRICE

SYSTEM STATUS: RALLY

109.05$

▲ MARKET SURGE : +0.02% (24H)

Brent Crude - Price Chart

WTI CRUDE OIL
$112.06
▲ +0.47%
NATURAL GAS (US)
$2.81
▲ +0.25%
GOLD / XAU
$4702.70
▲ +0.49%

Estimated Fuel Pump Price

Indicative price per liter, based on Brent crude

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Diesel ---/liter
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Estimates based on Brent crude price. Actual prices vary by local taxes, refining and distribution costs.

Brent-WTI Spread

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Brent: ---
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Converter

1 Barrel = 158.99 L
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About Live Oil Prices

What is Brent Crude?

Brent crude oil is one of the most widely referenced benchmarks in global energy markets. Originating from the North Sea, it is used to price roughly two-thirds of the world's internationally traded crude oil. Because Brent is waterborne crude, it can be shipped efficiently to refineries worldwide, which makes it the preferred benchmark for international oil pricing.

How is the Oil Price Determined?

The price of Brent crude oil is set by futures contracts on ICE Futures Europe (Intercontinental Exchange) based in London. Prices are denominated in US dollars per barrel, where one barrel equals 42 US gallons (roughly 159 liters). The market trades nearly around the clock, from Sunday 23:00 to Friday 23:00 London time, enabling participants across all time zones to respond to market developments as they happen.

Brent vs WTI: Understanding the Difference

Brent crude serves as the international oil pricing benchmark, while West Texas Intermediate (WTI) is the primary benchmark for oil priced in the United States. Brent generally trades at a premium over WTI because of its broader global significance and the logistical challenges associated with landlocked WTI delivery at Cushing, Oklahoma. The price spread between Brent and WTI is influenced by factors including supply chain dynamics, pipeline infrastructure, and geopolitical events.

Factors That Influence Oil Prices

Crude oil prices are shaped by a wide range of factors: OPEC+ production policies, geopolitical instability in major oil-producing regions, shifts in global economic growth and energy consumption, US dollar fluctuations, weekly inventory reports from the EIA and API, seasonal demand cycles, and the ongoing energy transition toward renewables. Unexpected supply disruptions, trade sanctions, and severe weather events can trigger sharp price movements.

Frequently Asked Questions

What is the current oil price?

The current Brent crude oil price is shown at the top of this page and refreshes automatically every 5 minutes using live data from ICE Brent futures contracts. The displayed price reflects the front-month futures contract, which is the most actively traded instrument.

What is Brent crude oil?

Brent crude is a classification of sweet light crude oil extracted from the North Sea. It serves as the principal global benchmark for pricing roughly two-thirds of internationally traded crude oil. The name originates from the Brent oilfield, which was discovered in 1971 by Shell.

What are the oil market trading hours?

Brent crude oil futures are traded on ICE Futures Europe and operate nearly 24 hours a day. The trading week begins on Sunday at 23:00 London time and continues through Friday at 23:00 London time, with a short daily maintenance window. This schedule enables market participants to react to global events at virtually any hour.

What is the difference between Brent and WTI crude oil?

Brent crude comes from the North Sea and acts as the global pricing benchmark, used to price about two-thirds of the world's oil. WTI (West Texas Intermediate) is a US-focused benchmark with delivery at Cushing, Oklahoma. Brent is slightly heavier and less sweet than WTI, and it generally trades at a premium because of its broader international significance and WTI's landlocked delivery constraints.

How often does this page update?

LiveOilPrice.net refreshes all price data every 5 minutes using live feeds from ICE futures markets. The interactive chart, related commodity prices (WTI, Natural Gas, Gold), and all figures on the page update automatically without requiring a manual reload.