Oil Prices Today Hold at $89.94 as Brent Slides $5.21
Oil prices today were $89.94 per barrel at 8:50 a.m. Eastern Time on June 12, 2026, with Brent used as the benchmark. The price was down $5.21 from yesterday morning and more than $19 above the level one year ago.
That puts the market in a tight daily range for traders and for drivers who feel crude changes later at the pump. Brent prices do not move in isolation: refining, transport, taxes, and local station markup all sit between crude and what households pay.
Brent at $89.94
$89.94 per barrel was the reported level for Brent at 8:50 a.m. ET, and that benchmark matters because it prices much of the world’s traded crude. The U.S. Energy Information Administration uses Brent as its primary reference in its Annual Energy Outlook, which makes the same benchmark a standard yardstick for global oil performance.
$5.21 was the drop from yesterday morning, a reminder that the price updates constantly while futures markets are open. For anyone tracking fuel costs, that means the number can move before retail prices fully adjust, and the day’s print is only a snapshot rather than a final settlement for consumers.
OPEC+ and supply news
Supply and demand, geopolitical news, and decisions made by OPEC+ all feed into oil prices, and those forces can move Brent even when the broader trend looks stable. The one-year comparison adds another layer: the market was more than $19 higher than it had been one year ago.
More than $19 above last year’s level gives traders and fuel buyers a clearer read on how elevated crude remains relative to a year ago. If Brent stays near this range, the pump effect will still depend on margins, taxes, and transportation costs, not just the headline crude number.
Pump prices and the gap
Gas prices at the pump include crude oil, refining and moving costs, taxes, and local station markup, so the June 12 print does not translate one-for-one into what drivers see. Still, the move to $89.94 per barrel is the figure to watch first, because it is the starting point for that chain of costs.
One year ago was the key reference point in the update, and the current price staying more than $19 above that mark leaves little room for a simple read-through. Drivers, refiners, and traders will be looking at whether Brent holds near this level as futures keep moving through the day.
