Current price of oil as of August 26, 2026

As of August 26, 2026, Brent oil sits at $87.41 per barrel, reflecting a decrease of $2.80 from the previous day and an increase of roughly $20 compared to this time last year. Oil prices are influenced primarily by global supply and demand, with factors like economic slowdowns or conflict causing sharp movements. The U.S. Strategic Petroleum Reserve exists to ensure energy security during emergencies.