Global oil prices are rising and falling daily, and many Saudis and residents are interested in knowing the latest oil prices because they affect the local economy and gasoline prices in the Kingdom. In this report, we review today’s oil prices, Tuesday, June 2, 2026, for the most important crude oils: Brent, WTI, and OPEC crude.
According to data from OilPrice.com, here are the latest oil prices for today:
| Crude | Price | Change | Percentage |
|---|---|---|---|
| Brent Crude | $94.41 | ▼ $0.57 | -0.60% |
| US WTI Crude | $91.58 | ▼ $0.58 | -0.63% |
| Murban | $94.43 | ▲ $1.12 | +1.20% |
| OPEC Basket | $102.80 | ▼ $2.98 | -2.82% |
| Natural Gas | $3.178 | ▼ $0.001 | -0.03% |
Why are oil prices moving today?
Oil prices are experiencing a slight decline in today’s trading, with Brent crude falling by 0.60% to reach $94.41 per barrel, while US WTI crude dropped by 0.63% to $91.58. This decline comes amid:
- Expectations of increased production from some countries outside OPEC+
- The strength of the US dollar, which is putting pressure on commodity prices
- Awaiting OPEC+ decisions on production levels
Impact of oil prices on Saudi Arabia
Oil prices have a direct impact on the Saudi economy, as the Kingdom is the world’s largest oil exporter. When prices rise, state revenues increase, supporting the budget and major projects such as Vision 2030. When prices fall, the impact is reversed, but the Saudi economy has become more diversified thanks to economic reforms.
Additionally, oil prices affect local gasoline prices. The Saudi Ministry of Energy announces gasoline prices monthly based on the global oil price average. Therefore, following oil prices is important for every driver in the Kingdom.
Price comparison — last 5 days
Since the end of last week, we have noticed that oil prices have been fluctuating slightly between rises and falls. Brent crude was at $95.20 last week and today at $94.41, while WTI was at $92.50 and today at $91.58. This pattern of fluctuation is normal in global oil markets.
Advice for the Saudi consumer
📌 Following oil prices weekly helps you anticipate changes in gasoline prices in the Kingdom. You can check the latest gasoline prices through the Saudi Ministry of Energy website or the official “Al-Ghaz” app.
📌 For investors: Oil price changes provide opportunities for traders — but remember that investing in commodities carries risks, and it is advised to consult specialists before making any investment decision.
FAQ
Frequently Asked Questions (FAQ)What is the price of Brent today?
Brent crude today is at $94.41 per barrel, down $0.57 (-0.60%) compared to yesterday.
What is the price of WTI today?
US WTI crude is at $91.58 per barrel, down $0.58 (-0.63%) from the previous session.
Will gasoline prices in Saudi Arabia rise if oil prices increase?
Yes, gasoline prices in Saudi Arabia are linked to global oil prices and are updated monthly based on the global average. The Ministry of Energy announces new prices at the beginning of each Gregorian calendar month.
📊 Data source: OilPrice.com — Real-time updated prices. Last update: June 2, 2026
