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Crude Oil Price Comparison
Current market price per barrel for Brent and WTI crude.
Primary Sources
Oil Prices Rise as Prospects for U.S.-Iran Peace Deal Fizzle
Oil prices rose and stock futures ticked down as investors reacted after the two sides failed to agree on a U.S.-Iran peace deal.
Oil Prices Whipsaw as U.S.-Iran Conflict Shakes Markets
By Editorial Dept - May 08, 2026, 6:30 AM CDT Crude oil prices experienced one of the most volatile trading weeks of 2026 during the period of May 3 through May 7, as traders reacted to the ongoing U.S.-Iran conflict, disruptions in the Strait of Hormuz, and sudden changes in diplomatic negotiations. June West Texas Intermediate (WTI) crude futures swung violently between a high of $107.46 and a low of $88.66 before stabilizing near $97 a barrel by the end of the week. The sharp price swings reflected how sensitive the market remains to supply disruptions and geopolitical headlines.Strait of Hormuz Crisis Fuels Market PanicThe biggest driver behind the rally early in the week was the continued closure of the Strait of Hormuz, one of the world’s most important oil shipping routes. Roughly 20% of global seaborne crude oil passes through the narrow waterway, and its disruption created fears of a severe global supply shortage.Tensions escalated sharply on Monday after Iran launched missiles and drones targeting the United Arab Emirates near the key oil export hub at Fujairah. At the same time, U.S. naval forces intensified operations aimed at restoring commercial shipping through the strait. The combination of military escalation and fears of additional attacks triggered aggressive buying in crude oil futures.Traders rushed into the market as concerns grew that the conflict could remove millions of barrels per day from global supply. Energy executives also warned that shortages were becoming more… COMMUNITY MEMBERSHIP (FREE) GLOBAL ENERGY ALERT ($697 $279 PER YEAR) Breaking energy stories before they hit the mainstream media Top quality analysis from industry veterans Exclusive investment opportunities Digestible data breakdowns Geopolitical insights from our network of over 600 operatives Risk-free 30-day money back guarantee
Oil prices rise after US and Iran exchange fire in Hormuz strait
Before the conflict began, oil was trading at around $70 a barrel. Trump told reporters that three US destroyers were involved in the latest exchange of fire.
Oil prices surge as US-Iran conflict threatens ceasefire
Despite the rise, both contracts are projected to decline by around 6% for the week. Oil prices rose on Friday after Iran accused the US of breaching their month-long ceasefire.
