Crude Oil Price Today: Brent at $93.49, WTI at $87.28 in Post-Market Trade on 11 November

Key Takeaways

• Brent crude was quoted at $93.489 per barrel, higher by $1.999 or 2.18% on the live reference.
• WTI crude was at $87.281 per barrel, higher by $1.241 or 1.44%.
• The Brent-WTI spread stood at approximately $6.21 per barrel.
• The figures were live post-Indian-market quotes rather than final ICE and CME/NYMEX settlements.
• Oil trading remained sensitive to Strait of Hormuz shipping-security risks and expectations surrounding a potential de-escalation in the Iran conflict.

Brent crude was trading at $93.489 per barrel, up $1.999 or 2.18%, in post-Indian-market trade on 11 November 2026. US West Texas Intermediate crude was at $87.281 per barrel, up $1.241 or 1.44%.

The matched snapshot put Brent's premium over WTI at approximately $6.21 per barrel.

Source: Trading Economics live market reference, captured at 4:17 PM IST on 11 November 2026. The figures are live post-Indian-market quotes, not final ICE or CME/NYMEX settlements.

Final international settlement prices were not yet available at the Indian post-market publication time. A consistent set of intraday high and low figures from the same post-close reference source could not be independently verified, so those figures have not been combined with the matched price snapshot.

Brent and WTI Prices

Brent-WTI spread: $6.208 per barrel, or approximately $6.21.

What Happened to Brent and WTI Today?

Oil prices rebounded from the preceding session's two-month lows as two competing developments remained in focus.

On one side, market participants continued to assess prospects for de-escalation in the Iran conflict. On the other, attacks on commercial shipping around the Strait of Hormuz maintained concerns over the security of a key global energy transit route.

Reuters reported that 37 ships had been attacked in the Strait of Hormuz and surrounding waterways during October, with another 10 attacks recorded in November at the time of the report.

Later in the Asian session, Brent was already up $1.04 at $92.53 and WTI was up $0.67 at $86.71, illustrating how the recovery had developed before the Indian equity market closed.

The later matched post-market snapshot showed both benchmarks at higher levels than those earlier readings. Shipping-security concerns and changing expectations around geopolitical de-escalation therefore remained important mechanisms affecting the crude risk premium.

What Is the Difference Between Brent and WTI?

Brent is a North Sea-based crude benchmark widely used for pricing internationally traded and seaborne oil.

WTI, or West Texas Intermediate, is the principal US crude benchmark, with its futures contract linked to delivery at Cushing, Oklahoma.

The two benchmarks can trade at different prices because of differences in crude quality, transportation, regional supply-demand conditions and delivery infrastructure.

At the 4:17 PM IST snapshot, Brent's premium to WTI was approximately:

$93.489 − $87.281 = $6.208 per barrel

or about $6.21 per barrel.

Why Do Crude Prices Matter for India?

India's Import Bill

India imports most of the crude oil it consumes. If crude prices rise while import volumes and the exchange rate remain unchanged, the dollar value required to purchase the same quantity of crude increases.

The eventual rupee cost also depends on USD/INR.

Inflation

Crude oil feeds into a wide range of economic costs.

Apart from petrol and diesel, crude-derived products affect aviation fuel, freight, petrochemicals, plastics, lubricants and numerous industrial inputs. The extent and timing of transmission into consumer prices depend on taxation, product pricing and company-level pass-through.

Airlines and Logistics

Fuel is a significant operating cost for airlines and transportation businesses.

Changes in crude and refined-fuel benchmarks can therefore alter operating costs. The eventual financial effect depends on fuel hedges, pricing decisions, route economics and the ability to pass costs through to customers.

Paints, Chemicals and Manufacturing

Several paints, chemicals, synthetic materials and industrial inputs use crude-derived feedstocks.

Changes in oil and petrochemical prices can alter raw-material costs, although the magnitude varies according to input mix, contracts and inventory cycles.

Refiners and Oil-Marketing Companies

For refiners, crude is a key input. The commercial effect of a crude-price movement cannot be assessed from the crude price alone because refining margins depend on both crude-input prices and the realised prices of petroleum products.

Oil-marketing companies are additionally affected by domestic fuel-pricing arrangements and inventory timing.

Upstream Oil Producers

Revenue for upstream producers can be linked directly or indirectly to global oil benchmarks. Higher or lower benchmark prices therefore change the gross value associated with a given volume of crude production, subject to contractual terms, taxation and production-sharing arrangements.

Rupee and External Balance

Because crude imports are generally paid for in US dollars, a larger oil-import bill can increase demand for foreign currency, all else being equal.

At the macroeconomic level, sustained changes in crude-import costs can also affect India's merchandise trade balance and current-account arithmetic.