Crude Oil Price Today: Brent at $105.73, WTI at $91.81 on 13 October 2026

What Happened to Brent and WTI Today? 

Crude oil prices declined as international energy markets weighed developments affecting supply availability, shipping conditions and refined-product trade. 

Reports described continuing disruptions to energy transport through the Strait of Hormuz and concerns regarding attacks affecting Saudi Arabia and regional shipping operations. 

Such disruptions matter because major Middle Eastern oil producers depend on maritime routes to transport crude oil and refined petroleum products to international markets. 

Restrictions on vessel movement, additional insurance requirements and higher freight costs can increase the delivered cost of petroleum. 

At the same time, reports concerning the potential resumption of Russian diesel exports introduced another consideration for refined-product supply. 

Additional diesel availability would affect the balance of trade in middle-distillate fuels, although the implications depend on actual export volumes, transport arrangements and market access. 

The day's oil-price movements therefore occurred against competing supply-related developments rather than a single established catalyst. 

What Is the Difference Between Brent and WTI? 

Brent and WTI are widely followed international crude oil benchmarks, but they represent different underlying crude markets. 

Brent is associated with North Sea production and serves as an important reference for internationally traded crude oil. 

WTI is a major United States crude benchmark, with futures contracts traded through NYMEX. 

Differences in crude quality, transportation infrastructure, storage conditions, regional supply and international demand contribute to the price relationship between the two benchmarks. 

For the reported December contracts, Brent was priced $13.92 per barrel above WTI. 

Why Do Crude Oil Prices Matter for India? 

India's Import Bill 

India depends significantly on imported crude oil to meet domestic petroleum requirements. 

A change in international crude prices can affect the dollar value of India's oil imports. 

For example, an increase of $1 per barrel raises the gross cost of importing one million barrels by $1 million, assuming the same quantity, contractual pricing and other conditions. 

The realised import cost also depends on the types of crude purchased, contractual discounts, transportation expenses and exchange rates. 

Inflation 

Crude oil is an important input into transportation fuels, petrochemicals and other industrial products. 

Changes in crude prices can influence production and distribution costs across sectors. 

However, the transmission to consumer prices depends on domestic fuel-pricing arrangements, taxes, inventory cycles and the extent to which businesses pass cost changes through to customers. 

Airlines and Logistics 

Aviation turbine fuel and diesel are significant operating expenses for airlines and transport businesses. 

Changes in fuel procurement costs can affect operating expenses for an unchanged quantity of fuel consumption. 

The final financial impact depends on fuel contracts, hedging policies, utilisation and customer-pricing arrangements. 

Paints, Chemicals and Manufacturing 

Several industrial businesses use petroleum-derived products as raw materials. 

These include solvents, polymers, resins, lubricants and other petrochemical inputs. 

Changes in crude and refined-product prices can influence procurement costs, inventory valuations and working-capital requirements. 

Refiners and Oil-Marketing Companies 

Refiners purchase crude oil and process it into petroleum products. 

Their financial performance depends on crude-input costs, product realisations, refining margins, inventory movements and operating expenses. 

Oil-marketing companies are also affected by fuel procurement costs and domestic retail-pricing arrangements. 

A change in Brent or WTI alone is insufficient to establish the effect on an individual company's profitability. 

Upstream Oil Producers 

Oil exploration and production companies generate revenue through the sale of crude oil and natural gas. 

Benchmark-linked pricing can influence revenue per barrel, subject to realised selling prices, production volumes, contractual terms and applicable levies. 

Rupee and External Balance 

Crude oil imports create demand for foreign currency because international transactions are commonly denominated in US dollars. 

For an unchanged import volume, higher dollar-denominated crude costs increase the value of required foreign-currency payments. 

The final rupee cost also depends on movements in USD/INR. 

As a result, crude oil prices are relevant to India's merchandise trade balance, current account and foreign-exchange requirements.