The Brent crude benchmark fell to $97.44 per barrel at 9 a.m. Eastern Time on June 5, 2026, marking a 51-cent decline from the previous day as trading continued throughout the month.
The drop reflects broader weakness in crude markets. Over the past month, Brent prices have fallen 17.89% from $118.68, according to Fortune, signaling sustained pressure on the global oil benchmark that prices approximately 80% of worldwide petroleum trade.
Despite the recent decline, Brent crude remains significantly elevated compared to a year ago. On June 5, 2025, the benchmark stood at $65.74 per barrel, meaning current prices are roughly $32 higher than the same date last year. This year-to-date strength reflects the impact of geopolitical tensions and supply concerns that have supported prices even as short-term momentum has weakened.
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Oil price movements affect consumers across multiple sectors. Changes in crude prices influence gas pump costs, shipping expenses, and the price of everyday goods, though gas prices often lag behind crude declines—a pattern sometimes called “rockets and feathers” in the energy market.
Sources
- Fortune — Current price of oil as of June 5, 2026; Brent crude at $97.44 per barrel, down 51 cents from June 4; monthly decline of 17.89% from $118.68; year-over-year comparison showing $32 increase since June 5, 2025
- Trading Economics — Brent fell to 93.03 USD/Bbl on June 5, 2026, down 2.11% from the previous day
- CNBC — Global oil prices tumbled by around 20% from 2026 highs as of late May
