Oil Price — Brent crude, live
As of 2026-06-06 17:51 UTC (market closed; last traded price), Brent Crude Oil (Brent front-month, per barrel) is $93.09, down 2.04% in its last session, trading below its 50-day average (99.91) and above its 200-day average (79.50). Source: FMP.
90-day daily close history. 52-week range $58.72 – $119.40. Benchmark is Brent crude (the global seaborne benchmark), in US dollars per barrel. WTI is not shown.
What oil tells an FX trader
Oil is the macro variable that most directly drives the commodity currencies. The Canadian dollar is the cleanest play — Canada is a major crude exporter, so USD/CAD tends to fall (CAD strengthens) when oil rises. The Norwegian krone behaves similarly. On the other side, big oil importers like Japan and the euro area see their terms of trade worsen when crude spikes, which can weigh on the yen and euro.
Oil is also an inflation input, so a sustained move feeds into rate expectations and therefore into the yield curve and the dollar. A supply-driven oil spike is stagflationary and tends to be dollar-supportive via higher yields; a demand-driven slump often coincides with risk-off and a firmer dollar against commodity FX.
This page tracks Brent, the global seaborne benchmark, rather than WTI. For the currencies most sensitive to a given oil move, cross-reference the currency-strength meter and the correlation matrix.
FAQ
Is this WTI or Brent crude?
This page tracks Brent crude, the global seaborne benchmark used to price most internationally traded oil. WTI (West Texas Intermediate) is the US domestic benchmark and is not shown here.
Why does the oil price matter for forex?
Oil drives the commodity currencies. The Canadian dollar and Norwegian krone tend to strengthen when oil rises (major exporters), while oil importers like Japan see their currency pressured. Oil is also an inflation input that feeds into rates and the dollar.
How does oil affect USD/CAD?
Canada is one of the world's largest oil exporters, so a higher oil price improves Canada's terms of trade and tends to strengthen the Canadian dollar — a falling USD/CAD. A falling oil price tends to lift USD/CAD.
How often does the oil price update here?
The Brent price refreshes about every minute during market hours from a live data feed. The moving averages and 90-day chart are built from daily closing prices.