Crude Oil Price Today: Brent Trades Above $100, WTI Remains Above $90 on 12 October 2026

The post-3:30 PM IST Brent and WTI quotes, their corresponding changes, and session high/low figures remain unverified.

What Happened to Brent and WTI Today?

Oil markets responded to competing developments concerning supply and transportation. 

Reuters reported attacks involving shipping and Saudi Arabia during the weekend, reinforcing concerns over the security of Middle Eastern energy flows. 

At the same time, discussions about Russian diesel supplies and claims of a possible Russia-Ukraine agreement to halt attacks on energy infrastructure added a separate supply consideration. 

The Associated Press reported that Ukraine subsequently described continued attacks on energy facilities, meaning the reported ceasefire could not be treated as an established cessation of hostilities.  

Oil markets responded to competing developments concerning supply and transportation. 

Reuters reported attacks involving shipping and Saudi Arabia during the weekend, reinforcing concerns over the security of Middle Eastern energy flows. 

At the same time, discussions about Russian diesel supplies and claims of a possible Russia-Ukraine agreement to halt attacks on energy infrastructure added a separate supply consideration. 

The Associated Press reported that Ukraine subsequently described continued attacks on energy facilities, meaning the reported ceasefire could not be treated as an established cessation of hostilities.  

What Is the Difference Between Brent and WTI? 

Brent is a major international benchmark associated with seaborne crude markets, while West Texas Intermediate is a key US crude benchmark. 

The difference between the two is influenced by crude quality, geographical delivery points, transportation costs, regional infrastructure and market supply conditions. 

At the verified early-session reference point, Brent's premium to WTI was $13.04 per barrel. That is not presented as the final or latest post-market spread. 

Why Do Crude Prices Matter for India?

India's Import Bill

India relies on imported crude oil for much of its petroleum requirement. 

For a fixed import volume, an increase in the average dollar price per barrel raises the dollar value of the oil-import bill. Exchange-rate movements further affect the rupee cost.

Inflation

Crude oil contributes to the cost structure of transport fuels, petrochemicals and several industrial inputs. 

The transmission to consumer prices depends on refining costs, duties, distribution margins and fuel-pricing arrangements. 

Airlines and Logistics 

Aviation turbine fuel is an important operating expense for airlines. 

Crude and refined-product prices influence fuel procurement costs, while the impact on transport companies depends on contractual arrangements, fuel efficiency and the ability to pass expenses through to customers. 

Paints, Chemicals and Manufacturing 

Several paints, chemicals and packaging products use inputs derived from petroleum. 

Changes in crude-related feedstock prices can affect production costs, though the relationship varies by product, inventory cycle and supply contract. 

Refiners and Oil-Marketing Companies 

Refiners purchase crude as a primary input and sell refined petroleum products. 

Their economics depend on the relationship between crude acquisition costs and the prices of products such as petrol, diesel and aviation fuel, alongside inventory valuation and operational factors.

Upstream Oil Producers 

Companies extracting crude may receive revenue linked to international or domestic oil-pricing benchmarks. 

The relationship between benchmark prices and realised revenue depends on the company's production mix, contractual terms, royalties and other deductions.

Upstream Oil Producers 

Companies extracting crude may receive revenue linked to international or domestic oil-pricing benchmarks. 

The relationship between benchmark prices and realised revenue depends on the company's production mix, contractual terms, royalties and other deductions.