Current price of oil as of August 31, 2026

As of 8:30 a.m.

Eastern Time on August 31, 2026, oil sold for $93.03 per barrel (using Brent as the benchmark, which we’ll get into momentarily).

That’s $1.06 higher than yesterday morning and approximately a $25 rise over the past year.

Oil price per barrel % Change Price of oil yesterday $91.97 +1.15% Price of oil 1 month ago $91.45 +1.72% Price of oil 1 year ago $67.94 +36.92% Check Out Our Daily Rates Reports Discover the highest high-yield savings rates , up to 4.50% for September 1, 2026.

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Will oil prices go up? It’s impossible to predict the future of oil prices.

Several factors determine the movement of oil, but it ultimately boils down to supply and demand.