Crude oil prices

Weekly average spot price of crude oil, the main input to what drivers pay.

Headlines

WTI, Cushing spot price, a barrel.

Latest
$98.07
Week of 2 Oct 2026
Past week
Up 4.8%
From $93.57
Past year
Up 57%
From $62.59
12-month range
$56.30 to $106
Lowest and highest week

Crude oil prices, WTI, Cushing and Brent, Europe

Weekly price, a barrel.

Up to and including the week of 2 Oct 2026

Source: US Energy Information Administration.

More frequent energy shocks this decade

Price of crude oil since 1970, dollars a barrel, with the major shocks labelled. Not adjusted for inflation.

Up to and including the week of 2 Oct 2026

$0$20$40$60$80$100$120$140$16019701975198019851990199520002005201020152020OPEC embargoIran revolutionFirst Gulf WarSecond Gulf WarFinancial crisisCovid-19 pandemicRussia invades UkraineIran war$120

Source: US Energy Information Administration. Weekly Brent spot from May 1987; before that, the cost of imported crude to US refiners, monthly from 1974 and annual before.