Oil Prices Reach $104.67 Per Barrel on September 24, 2026
· Business · Fortune
As of 10 a.m. Eastern Time on September 24, 2026, Brent crude traded at $104.67 per barrel, up $2.64 from the previous morning and roughly $36 above the price a year earlier. The Brent benchmark serves as the primary global reference for oil pricing and is now used by the U.S. Energy Information Administration as its main gauge in the Annual Energy Outlook. The article notes that oil prices swing sharply amid concerns over recession, war, or major supply disruptions. It also explains that crude oil accounts for more than half of the price consumers pay at the pump, so increases show up quickly while declines tend to arrive more slowly. The U.S. Strategic Petroleum Reserve is described as an emergency backstop — not a long-term fix — deployed during sanctions, storm damage, or war to cushion price spikes.
Why it matters
A $36 year-over-year rise in crude matters directly to Indian consumers because India imports the bulk of its oil, and higher Brent prices feed quickly into petrol and diesel costs at Indian pumps, adding pressure on household budgets and transport-linked inflation.
Read the original report — Fortune
Join us on Telegram
Breaking news the moment it lands. At 10,000 members we ship the Android app.