Brent crude climbs to just under $100 per barrel on September 8
At 9 a.m. Eastern Time on September 8, Brent crude was trading at $99.85 a barrel, up 79 cents from the previous day.
On September 8 at 9 a.m. Eastern Time, Brent crude was priced at $99.85 per barrel, a 0.79 % gain from the prior morning. This level reflects a $33 increase compared with the price a year earlier, which stood at $66.58, and a 16.83 % rise from the level a month earlier at $85.46. The piece explains that oil price movements hinge on global supply and demand, with geopolitical events or economic slowdowns capable of prompting rapid changes.
It also outlines how crude costs influence gasoline prices, noting that crude typically makes up more than half of the pump price. The U.S. Strategic Petroleum Reserve is described as an emergency stockpile that can temper sharp price spikes, while the link between oil and natural-gas markets is highlighted. Historical context is provided through reference to the Brent benchmark’s volatility over decades.
Why it matters
Oil price shifts affect gasoline costs and broader economic conditions for consumers and businesses.
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