Current price of oil as of May 1, 2026

At 8:45 a.m. Eastern Time today, oil was priced at $116.10 per barrel with Brent serving as the benchmark (we’ll explain different benchmarks later in this article). That’s a rise of $1.44 compared with yesterday morning and around $53.46 higher than the price one year ago. Oil price per barrel% ChangePrice of oil yesterday$114.66+1.25%Price of oil 1 month ago$112.17+3.50%Price of oil 1 year ago$62.64+85.34%Price of oil yesterdayOil price per barrel$114.66% Change+1.25%Price of oil 1 month agoOil price per barrel$112.17% Change+3.50%Price of oil 1 year agoOil price per barrel$62.64% Change+85.34% Will oil prices go up? It’s impossible to forecast oil prices with detailed precision. Many different elements affect the market, but ultimately it boils down to supply and demand.

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