Updated: January 2, 2026

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This article delivers a comprehensive, SEO-first update on oil price today — covering Brent, WTI, live quotes, India, Australia, palm oil and mentha oil. It combines current price ranges, structural market drivers, regional fuel context, FAQs, and authoritative external links for editors, analysts, and procurement teams.

WHAT YOU’LL LEARN

• Current price ranges and direction for Brent, WTI and the Indian Basket
• How “oil price today” differs across spot, futures and settlement
• India, Australia, palm oil and mentha oil snapshots
• Practical FAQs, LSI keywords, and primary data sources

KEY STATISTICS (SUPPLY & STRUCTURE)

• Global oil production (early-2026): ~105–106 million barrels per day (mb/d), near cycle highs as non-OPEC supply and partial OPEC+ unwind offset demand moderation
  Source: IEA, OPEC, EIA
• Global proven reserves: ~1.57 trillion barrels (latest consolidated public estimates)
  Source: OPEC Statistical Review
• OPEC spare capacity: Estimated ~4–5+ mb/d, concentrated mainly in Saudi Arabia, UAE and Kuwait
  Source: Reuters market surveys

1) INTRODUCTION

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A single-page briefing explaining today’s oil prices, benchmarks, regional baskets, and related commodities.

Oil pricing in 2026 remains structurally fragmented. Headlines usually quote Brent or WTI, but physical trade relies on baskets, differentials, freight, and timing. India tracks a weighted import basket, Australia prices fuel off terminal gate benchmarks, and agricultural oils follow their own supply cycles.

This guide separates signal from noise: what price is quoted, why it moved, and how it actually feeds into fuel, freight, chemicals, and policy decisions.

LSI keywords: oil market update, global oil prices, energy markets today

Quick FAQs

• Best source for live crude prices? Exchange-linked platforms such as TradingView, MarketWatch, and Investing.com
• Spot or futures? Front-month futures drive headlines; physical trade settles on assessed prices

Authoritative context
International Energy Agency — Oil Market Report
https://www.iea.org/reports/oil-market-report

2) OIL PRICE TODAY (GLOBAL SNAPSHOT)

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Where oil prices are trading as markets open 2026.

Early January 2026 context:

• Brent: broadly mid-$60s per barrel
• WTI: low-to-mid $60s per barrel

Prices enter 2026 under supply-heavy pressure rather than panic. OPEC+ compliance is uneven, U.S. output remains resilient, and inventories in OECD countries are adequate. Upside risk remains geopolitical rather than structural.

Key drivers now

• OPEC+ output discipline vs. fiscal pressure
• Non-OPEC supply growth (U.S., Brazil, Guyana)
• Demand softness in Europe, mixed signals from Asia
• Freight, insurance and shipping risks in key corridors

LSI keywords: oil price today, crude oil markets now

External market context
Reuters energy markets overview
https://www.reuters.com/markets/commodities/

3) CRUDE OIL PRICE TODAY (FUTURES & SPOT)

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Front-month futures, spot relevance, and curve structure.

“Crude oil price today” usually refers to front-month ICE Brent and NYMEX WTI futures. These prices embed expectations, not just barrels. Spot cargoes price off benchmarks plus or minus differentials reflecting quality and location.

Curve structure matters

• Backwardation: tight prompt supply, higher nearby prices
• Contango: surplus supply, storage economics improve

Entering 2026, curves are relatively flat, signaling balance rather than shortage.

LSI keywords: NYMEX WTI front month, ICE Brent futures

External reference
MarketWatch — Brent futures overview
https://www.marketwatch.com/investing/future/brn00

4) BRENT CRUDE OIL PRICE TODAY

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Global seaborne benchmark used in most international contracts.

Brent remains the dominant global reference for seaborne crude. It reflects North Sea supply but functions as a pricing anchor for Africa, Europe, and Asia.

Why Brent matters

• Contract pricing for most internationally traded crude
• Refinery feedstock valuation
• Shipping and freight hedging

LSI keywords: Brent crude today, Brent price per barrel

External chart & history
Trading Economics — Crude Oil
https://tradingeconomics.com/commodity/crude-oil

5) CRUDE OIL PRICE TODAY LIVE

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Where to track real-time prices correctly.

Best practice for “live” prices

• Use TradingView for tick-by-tick futures
• Cite exchange settlements for publishing
• Use Platts / Argus assessments for physical trade

LSI keywords: live oil price, real-time crude quotes

Live feed
TradingView — WTI futures
https://www.tradingview.com/symbols/NYMEX-CL1%21/

6) CRUDE OIL PRICE TODAY IN INDIA

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Indian Basket pricing and retail fuel implications.

India tracks the Indian Basket, a weighted average of imported crude grades.
Early-2026 range: broadly aligned with Brent, typically $2–4/bbl differential depending on mix and freight.

Retail petrol and diesel prices depend far more on taxation and FX than daily crude volatility.

LSI keywords: Indian basket crude price, PPAC oil price

Official data
PPAC — International crude prices
https://ppac.gov.in/prices/international-prices-of-crude-oil

7) MENTHA OIL PRICE TODAY

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Essential oil pricing driven by agriculture, not energy.

Mentha oil trades independently of crude. Prices are quoted per kg and depend on:

• Mint crop acreage and yield
• Weather patterns
• Export demand for menthol

Early-2026 trend: range-bound with seasonal volatility.

LSI keywords: mentha oil price India, MCX mentha oil

Market snapshot
Economic Times — Mentha Oil
https://economictimes.indiatimes.com/commoditysummary/symbol-MENTHAOIL.cms

8) PALM OIL PRICE TODAY

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Vegetable oil benchmark with biofuel relevance.

Palm oil prices are quoted on Bursa Malaysia in MYR/tonne. They matter to oil readers due to biodiesel blending economics.

Key drivers

• Malaysian and Indonesian output
• Export levies and quotas
• Soybean oil competition
• Biofuel mandates

LSI keywords: palm oil price today, CPO futures

Chart & data
Trading Economics — Palm Oil
https://tradingeconomics.com/commodity/palm-oil

9) WTI OIL PRICE TODAY

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U.S. benchmark reflecting domestic supply balances.

WTI trades on NYMEX and reflects:

• U.S. shale output
• Storage at Cushing
• Pipeline and refinery utilization

WTI often trades at a discount or premium to Brent depending on logistics.

LSI keywords: WTI price today, NYMEX crude

Live quote
MarketWatch — WTI futures
https://www.marketwatch.com/investing/future/cl.1

10) BARREL OF OIL PRICE TODAY (UNITS)

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What “per barrel” actually means.

• 1 barrel = 42 U.S. gallons ≈ 159 liters
• Mass varies by density (API gravity)
• Conversion to pump prices requires refining, tax, freight, FX

LSI keywords: oil price per barrel, barrel to litre conversion

Reference
Markets Insider — Oil prices
https://markets.businessinsider.com/commodities/oil-price

11) OIL PRICE TODAY AUSTRALIA

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From global crude to Australian pump prices.

Australia’s fuel prices reflect:

• Imported refined product
• Terminal Gate Prices (TGP)
• AUD/USD exchange rate
• State and federal taxes

LSI keywords: Australia fuel price today, terminal gate price

Official source
Australian Institute of Petroleum — TGP
https://www.aip.com.au/pricing/terminal-gate-prices

12) CONCLUSION

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What to watch next in oil markets.

Entering 2026, oil prices are defined less by scarcity and more by policy discipline and demand realism. Brent and WTI sit in the mid-cycle range, with volatility driven by geopolitics, inventories, and OPEC+ signaling rather than structural shortages.

Key takeaways

• Always timestamp and source prices
• Futures drive sentiment; assessments drive trade
• India and Australia translate crude through tax and FX filters

Outlook & inventories
U.S. EIA — Short-Term Energy Outlook
https://www.eia.gov/outlooks/steo/

EXPANDED FAQ (RICH SNIPPET)

Q1: What is the best single source for “oil price today”?
Exchange settlement prices from ICE (Brent) and NYMEX (WTI), with timestamp and timezone.

Q2: How often do prices update?
Tick-by-tick during trading hours; official settlements once per session.

Q3: Why don’t pump prices move daily with crude?
Taxes, inventories, and pricing cycles create lag and dilution.

Q4: Are mentha and palm oil linked to crude?
Only indirectly. Palm oil intersects via biofuels; mentha oil is agricultural.

Q5: Should businesses hedge in early 2026?
Depends on exposure, margins, and risk tolerance. Futures lock prices; options cap downside.