Oil prices on May 29 2026: Brent around $94, WTI near $87 per barrel

The latest market data show Brent crude priced at roughly $94.44 a barrel on the morning of May 29 2026, according to Fortune’s daily oil report [3]. At the same time, OilMonster’s real‑time feed lists Brent at $91.12 and West Texas Intermediate (WTI) at $87.36 per barrel for the same date [1]. The two sources differ slightly, reflecting the fast‑moving nature of futures markets.

Key takeaways

• Brent crude was $94.44 per barrel at 9 a.m. ET on May 29 2026 (Fortune) [3].
• OilMonster’s live data for May 29 2026 shows Brent at $91.12 and WTI at $87.36 per barrel [1].
• The price drop from the previous day was $3.07 for Brent (Fortune) [3].
• Compared with a year earlier, Brent is about $30 higher (Fortune) [3].
• Market commentary notes that supply‑demand dynamics and geopolitical concerns continue to drive price volatility (Fortune) [3].

Benchmark prices on May 29 2026

Fortune’s article highlights that Brent, the global benchmark, fell $3.07 from the prior morning’s level, settling at $94.44 per barrel. The report adds that this price remains roughly $30 above the same time last year, underscoring a longer‑term upward trend despite short‑term fluctuations. In contrast, OilMonster’s live pricing page lists Brent at $91.12 and WTI at $87.36 per barrel for the same date, indicating that market participants were seeing slightly lower spot levels at the moment of their update. Both sources agree that Brent is the primary reference for global oil performance, while WTI serves as the North American benchmark.

Market context and price drivers

Both Fortune and OilMonster note that oil prices are chiefly driven by supply and demand fundamentals, with geopolitical events, OPEC decisions, and U.S. shale output influencing daily movements. Fortune’s commentary emphasizes that concerns over economic slowdown, conflict, or other shocks can cause rapid price swings, while the strategic petroleum reserve is mentioned as a short‑term stabilizer in emergencies. Although the two sources present different spot figures, they collectively illustrate a market still responsive to global news and inventory dynamics.

Why it matters

The current Brent price—whether $94.44 (Fortune) or $91.12 (OilMonster)—affects downstream costs such as gasoline, which typically includes crude oil as the largest component of the pump price. Persistent price levels above a year ago suggest continued pressure on fuel costs and broader inflationary trends. Analysts will watch upcoming OPEC+ meetings and U.S. shale production reports for clues on whether the market will tighten further or ease, potentially influencing both consumer prices and energy‑related economic indicators.