Current price of oil as of November 12, 2026
Oil price per barrel% Change Price of oil yesterday $95.72 -1.19% Price of oil 1 month ago $106.68 -11.34% Price of oil 1 year ago $63.01 +50.10% Check Out Our Daily Rates Reports Discover the highest high-yield savings rates for November 13, 2026.
Key points
- Crude oil is one piece, but you also pay for refineries, wholesalers, government taxes, and the price markup set by gas stations.
- Because crude oil usually accounts for more than half of the price per gallon, it tends to move the needle the most.
- Discover the top CD rates from major banks on November 13, 2026.
Eastern Time on November 12, 2026, oil had reached $94.58 per barrel, measured using the Brent benchmark.
Declines in the price of oil, on the other hand, often translate into slower, more delayed drops in gas prices—the “rockets and feathers” effect.
Additional details
- Historical performance of oil The oil market typically tracks two benchmarks: Brent crude oil (the main global oil benchmark) West Texas Intermediate (WTI) (the main benchmark of North America) Between the two, Brent offers a clearer view of global oil performance because it prices much of the world’s traded crude.
- As an example, if oil prices increase, some industries may sub natural gas for certain areas of their operations wherever possible.
- For example: The early 1970s saw the first major oil shock when the Middle East slashed exports and placed an embargo on the U.S.
- How oil and natural gas prices are linked Oil and natural gas are two of the main fuels that keep the world running.
- How oil prices translate to gas pump prices Each gallon you pay for at the pump bundles together several costs.
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 →
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