Current price of oil as of October 8, 2026

Brent crude rose to $108.33 per barrel by 7 a.m. Eastern Time on October 8, 2026, extending a sharp year-over-year increase in the benchmark price.

Oil price moves higher

The latest Brent reading was $3.59 above the level recorded the previous morning. Compared with its price a year earlier, oil was trading about $42 higher.

Brent is used as the benchmark for the reported oil price. The figure provides a snapshot of where the market stood early in the trading day, with the latest reading showing both a daily gain and a substantially higher price than the same period last year.

What the latest reading shows

The move places Brent above the $100-per-barrel mark and highlights the scale of the change over the past year. However, the available information does not identify what drove the latest increase or indicate how prices may move next.

For businesses and market participants tracking energy prices, the key data points are the $108.33 Brent benchmark, the $3.59 daily increase and the roughly $42 rise from a year earlier.

Bottom line

As of 7 a.m. Eastern Time on October 8, 2026, Brent crude was priced at $108.33 per barrel. The benchmark had gained $3.59 in one day and was about $42 above its level a year earlier.