Brent crude oil hits $83.64 on August 6

fortune.com

On August 6, 2026, Brent crude oil reached $83.64 per barrel, down 8 cents from yesterday and $16.10 above last year, impacting energy and consumer costs. The price is roughly 16% higher than a month ago and nearly 24% above a year ago. Oil remains unpredictable, shaped by supply and demand, recessions, wars, and disruptions. Crude typically accounts for over half of gasoline pump prices. The U.S. Strategic Petroleum Reserve can cushion emergency supply shocks, while oil-price shifts may affect natural gas demand. Historically, Brent has swung sharply due to wars, recessions, and OPEC decisions.


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