Crude Oil Price Today: Brent at $116.23, WTI at $102.49 in Post-Market Trade on 27 October 2026

Key Takeaways

• Brent was quoted at approximately $116.23 per barrel, up about $0.42 or 0.37% from the previous reference of $115.81.
• WTI was quoted near $102.49 per barrel, up around $0.73 or 0.72% from $101.76.
• The resulting Brent-WTI spread was approximately $13.74 per barrel.
• These were live post-Indian-market reference prices, not final ICE or CME settlement figures.
• Middle East diplomacy remained in focus alongside continued attacks on Saudi Arabia and shipping risks around the Strait of Hormuz.

Source and timing: Trading Economics live market-reference data, retrieved at approximately 4:16 PM IST on 27 October 2026. The displayed prices are OTC/CFD market references tracking Brent and WTI and are not official ICE/CME settlement prices. Trading Economics explicitly describes its commodity prices as market-reference instruments rather than official exchange benchmarks.

Brent and WTI Prices

The Brent-WTI spread was about $13.74 per barrel based on the same live market-reference snapshot.

What Happened to Brent and WTI Today?

Crude oil prices moved through both negative and positive territory during Tuesday's session as markets assessed developments in the Middle East.

Earlier in the day, Reuters reported Brent at $115.15 and WTI at $101.32 as diplomatic efforts involving Saudi Arabia, Turkey, Pakistan and Iran reduced some immediate concerns about a broader escalation and possible supply disruption.

At the same time, the geopolitical risk had not disappeared. Renewed attacks by Iran-aligned Houthis on Saudi Arabia and continued security risks around commercial shipping in the Strait of Hormuz remained relevant for crude supply expectations. Before the conflict, the Strait carried around one-fifth of global energy supplies, according to the Reuters report.

By the post-Indian-market snapshot used here, both benchmark references were above their previous-day levels. The movement illustrates the competing influence of de-escalation efforts and continuing supply-security risks rather than establishing a single cause for the price change.

What Is the Difference Between Brent and WTI?

Brent is the principal international benchmark associated with North Sea crude and is widely used as a reference for oil traded across Europe, Africa and the Middle East.

West Texas Intermediate, or WTI, is the principal US light, sweet crude benchmark. NYMEX WTI futures are physically linked to Cushing, Oklahoma. CME describes WTI as a global crude benchmark closely connected to the physical spot market.

At the post-market reference prices used in this article, Brent traded about $13.74 per barrel above WTI.

Why Do Crude Prices Matter for India?

India's Import Bill

India imports a substantial proportion of the crude oil it consumes. For an unchanged quantity of imported oil, a higher dollar-denominated crude price increases the gross dollar value of those purchases, while a lower price reduces it.

Inflation

Crude oil enters the economy through fuels, transportation, freight, petrochemicals and a range of industrial inputs. The extent and timing of transmission to consumer prices depend on taxes, refining economics, retail pricing and other factors.

Airlines and Logistics

Aviation turbine fuel, diesel and other petroleum products are important operating costs for airlines and logistics businesses. Changes in crude prices can therefore influence fuel-cost structures, although realised costs also depend on product prices and hedging.

Paints, Chemicals and Manufacturing

Several chemicals, solvents, polymers and other industrial inputs are linked directly or indirectly to petroleum feedstocks. Changes in crude and downstream product prices can affect raw-material costs and working-capital requirements.

Refiners and Oil-Marketing Companies

For refiners, crude is a major input cost, but financial outcomes also depend on the difference between crude-input prices and prices realised for refined products. Oil-marketing companies are additionally affected by domestic fuel-pricing mechanisms and product-level margins.

Upstream Oil Producers

Revenue for upstream producers can be linked to realised crude prices and benchmark movements, although production volumes, crude quality, fiscal arrangements and hedging can also affect realised revenue.

Rupee and External Balance

Because international crude is largely priced in US dollars, India's oil imports contribute to demand for foreign currency. Changes in oil-import values can therefore affect the trade balance and broader external-account arithmetic without determining the rupee's direction on their own.