Current price of oil as of August 3, 2026

As of August 3, 2026, Brent crude oil is priced at $87.38 per barrel, reflecting a 71-cent increase from the previous day and a $17.50 rise over the past year. The article discusses factors influencing oil prices, including supply and demand dynamics, geopolitical events, and the role of the U.S. Strategic Petroleum Reserve in mitigating price shocks.