Crude Oil Price Today
The latest Brent crude oil price is [kfld_value k=”brent”] per barrel and WTI crude is [kfld_value k=”wti”] per barrel. Prices on this page are daily spot prices in US dollars, with the equivalent in UAE dirhams.
[kfld_crude_table]
Crude Oil Price Per Litre
Crude oil is traded by the barrel, but it helps to see it in the same unit as pump prices. One barrel is 159 litres, so today’s Brent crude works out to about [kfld_value k=”brent_litre_usd”] ([kfld_value k=”brent_litre_aed”]) per litre, and WTI to about [kfld_value k=”wti_litre_usd”] ([kfld_value k=”wti_litre_aed”]) per litre. This is the raw, unrefined cost — refining, transport, retailer margin and the UAE’s monthly pricing formula are what take it from this figure to the pump price on our UAE petrol price page.
Crude Oil Price History
[kfld_crude_history days=”30″]
Brent vs WTI: What Is the Difference?
- Brent crude comes from the North Sea and is the main global benchmark. Most oil traded internationally, including crude from the Gulf, is priced against it.
- WTI (West Texas Intermediate) is the main US benchmark, priced at Cushing, Oklahoma. It usually trades a few dollars below Brent.
- Murban is the UAE’s own benchmark crude, produced by ADNOC in Abu Dhabi and traded on ICE Futures Abu Dhabi.
How Crude Oil Prices Affect UAE Petrol Prices
UAE pump prices are reviewed every month in line with global fuel prices. When crude oil rises during a month, petrol and diesel prices usually increase the following month. See this month’s rates on our UAE petrol price page.
Oil Units Explained
- 1 barrel = 159 litres (42 US gallons).
- Prices are quoted in US dollars per barrel; the dirham is pegged at 3.6725 per dollar.
- Spot prices are published for trading days only, so weekends and holidays show the last available price.
Frequently Asked Questions
What is the crude oil price today?
The latest Brent price is [kfld_value k=”brent”] per barrel and WTI is [kfld_value k=”wti”] per barrel.
Why is Brent more expensive than WTI?
Brent is easier to ship to international buyers, while WTI is priced inland in the US. Transport costs and regional supply usually keep Brent a little higher.
Does the UAE set its own oil price?
ADNOC sells Murban crude, whose price is set by trading on ICE Futures Abu Dhabi. Like other crudes, it moves closely with global benchmarks.
What is the Murban crude oil price today?
Murban, the UAE’s own benchmark crude, does not trade with a single public live spot price the way Brent and WTI do. ADNOC publishes an Official Selling Price (OSP) for Murban each month, based on trading on ICE Futures Abu Dhabi during the previous month, and this OSP is what UAE and Asian buyers are billed against. Because Murban is light and low-sulphur, it normally trades close to, and at times slightly above, Brent.