Brent Crude Price Today
In short
Brent crude is trading near $115 a barrel as of 28 October 2026.
What is happening
Oil prices have surged to a six-month high due to escalating tensions in West Asia and fears of supply disruptions. UBS has raised its outlook, forecasting Brent to reach $110 per barrel by the end of 2026.
When
Prices surged past $117 a barrel last Friday.
Why it matters
High crude prices increase petrol costs and fuel inflation globally. This volatility impacts national economies, specifically affecting the Indian rupee and causing countries like Malaysia to raise unsubsidised fuel prices.
Easy to mix up
Do not confuse Brent crude, which is a major global oil benchmark, with WTI (West Texas Intermediate), which is the US benchmark.