Crude Oil Price Today: Brent at $115.11, WTI at $101.65 in Post-Market Trade on 28 October 2026

Key Takeaways

• Brent crude was quoted at $115.11 per barrel, up $1.23 or approximately 1.08% from the previous reference level.
• WTI crude stood at $101.65 per barrel, up $1.75 or approximately 1.75%.
• Brent traded between $114.11 and $116.35, while WTI's observed session range was $99.75 to $102.24.
• The Brent-WTI spread stood at approximately $13.46 per barrel based on the quoted prices.
• The figures are live post-Indian-market prices rather than final ICE/CME settlement prices because international crude trading was still under way.

Source: delayed international futures market data retrieved at approximately 4:00 PM IST on 28 October 2026. The Brent and WTI displays were marked about 11 minutes delayed. These are live post-Indian-market quotes, not final settlement figures.

Crude oil benchmarks were trading higher after the Indian equity market closed on 28 October 2026.

Brent crude stood at $115.11 per barrel, an increase of $1.23, or approximately 1.08%. WTI was at $101.65 per barrel, higher by $1.75, or approximately 1.75%.

The resulting Brent-WTI price differential was approximately $13.46 per barrel.

Brent and WTI Prices on 28 October 2026

Brent's observed intraday range was $114.11-$116.35 per barrel, while WTI traded between $99.75 and $102.24 per barrel in the available session data.

ICE's December 2026 Brent contract was still active on 28 October, with its last trading date scheduled for 30 October 2026. ICE calculates the daily Brent futures settlement later in the international trading day, which is why the figures above should not be described as final settlements.

What Happened to Brent and WTI Today?

Oil prices moved higher during 28 October trading as supply-risk concerns returned to focus.

Reuters reported that Yemen's Iran-aligned Houthis said they had targeted Saudi Arabia's largest oil refinery with a missile. Saudi authorities had not immediately confirmed the reported strike at the time of the report, making it important to distinguish the claim from a confirmed disruption.

The market was also assessing expectations around OPEC+ supply policy. Separate reporting indicated that the producer group was expected to keep its December production targets broadly unchanged, according to people familiar with the discussions.

These developments provided supply-side context for the session, but crude prices also respond continuously to inventories, production, shipping conditions, macroeconomic data and changes in expected petroleum demand.

What Is the Difference Between Brent and WTI?

Brent and WTI are two of the world's major crude-oil benchmarks.

Brent is the key reference for a large portion of internationally traded crude and is based on North Sea grades. ICE describes Brent futures as a globally used contract linked to the underlying North Sea physical market.

WTI, or West Texas Intermediate, is the principal US crude benchmark.

At the quoted 28 October prices, Brent was $13.46 per barrel above WTI:

$115.11 - $101.65 = $13.46 per barrel.

The spread can change with regional supply-demand conditions, infrastructure constraints, freight economics and differences between crude grades.

Why Do Crude Prices Matter for India?

India's Import Bill

India imports a large share of the crude oil it consumes.

If international crude prices increase while import volumes, exchange rates and other factors remain unchanged, the dollar value of the country's crude-oil import bill increases. A decline in crude prices has the opposite mechanical effect under the same assumptions.

Inflation

Crude oil feeds into several parts of the economy through petroleum products and crude-derived inputs.

Changes in underlying crude costs can be transmitted through fuels, freight, petrochemicals, packaging and industrial inputs. The degree and timing of transmission depend on taxation, retail fuel pricing, refining economics and company-level pricing decisions.

Airlines and Logistics

Aviation turbine fuel and diesel are major operating inputs for airlines and transport-intensive businesses.

Changes in crude and refined-product prices can therefore alter fuel costs. The financial effect varies with hedging, fuel efficiency, contractual pass-through arrangements and the timing of price revisions.

Paints, Chemicals and Manufacturing

Several chemicals, solvents, polymers and other industrial raw materials are linked directly or indirectly to petroleum feedstocks.

Changes in crude prices can therefore affect raw-material costs, although the magnitude depends on the particular input, product spreads, inventories and contractual arrangements.

Refiners and Oil-Marketing Companies

For refiners, crude is the principal feedstock. The effect of changing benchmark prices cannot be assessed from crude prices alone because refining margins depend on the difference between the cost of crude and the value of the petroleum products produced from it.

For oil-marketing companies, retail pricing, taxes, product costs and marketing margins also influence the final financial impact.

Upstream Oil Producers

For upstream producers, realised prices can be linked directly or indirectly to global crude benchmarks.

Higher benchmark prices can increase the value of crude production if volumes, discounts, taxes and other realisation factors remain unchanged. Lower benchmark prices create the reverse mechanical effect.

Rupee and External Balance

Crude oil imports are generally paid for in foreign currency. A larger dollar-denominated oil bill can increase foreign-currency requirements if import volumes and other variables remain constant.

This creates a link between crude prices, India's merchandise trade balance and foreign-exchange demand, although currency movements are influenced by many factors beyond oil.