At 7:45 a.m. Eastern Time on October 16, 2026, oil was priced at $108.51 per barrel with Brent serving as the benchmark (we’ll explain different benchmarks later in this article). That’s a rise of $1.84 compared with yesterday morning and around $47 higher than the price one year ago.
| Oil price per barrel | % Change | |
|---|---|---|
| Price of oil yesterday | $106.67 | +1.72% |
| Price of oil 1 month ago | $109.73 | -1.11% |
| Price of oil 1 year ago | $61.23 | +77.21% |
