Current price of oil as of November 11, 2026
Eastern Time on November 11, 2026, the price of oil sits at $95.72 per barrel, using Brent as the benchmark (we’ll explain what that means shortly).
Key points
- How oil prices translate to gas pump prices The price you see at the gas pump reflects more than just crude oil.
- Discover the top CD rates from major banks on November 12, 2026.
- If oil prices increase, some industries may swap natural gas for some segments of their operations where possible, increasing the demand for natural gas.
Discover the current price of gold for November 12, 2026.
Crude oil is still the largest single driver of the final pump price, typically representing over half of each gallon’s cost.
Additional details
- Historical performance of oil Oil prices are often measured by two key benchmarks: Brent crude oil is the main global oil benchmark.
- But when oil prices decline, gas prices often ease down gradually, a behavior known as “rockets and feathers.” The role of the U.S.
- For example: The early 1970s brought the first big oil shock when the Middle East cut exports and imposed an embargo on the U.S.
- Between the two, Brent is a better representation of global oil performance because it prices much of the world’s traded crude.
- Prices dropped in the mid-1980s for reasons such as weaker demand and more non-OPEC oil producers entering the industry.
How this summary was made: extractive summary — built from the sources' own reporting. It is drawn only from the reporting of the sources listed below — read the originals for full detail. How we summarize →
Advertisement
Every article behind this summary — 1 article from 1 outlet
Get stories like this in your inbox.
Subscribe — it's freeOne free email at 6am — your topics, deduplicated, five minutes. No account, no paywall.