Oil prices rose today, Sunday, May 24, 2026, after slight gains in Brent and West Texas crude. We review for you the latest oil prices and details of today’s changes.
Oil Prices Today — Sunday, May 24, 2026
| Crude | Price (USD) | Change |
|---|---|---|
| Brent Crude (Brent) | $103.54 | +0.96 ▲ (+0.94%) |
| West Texas Crude (WTI) | $96.60 | +0.25 ▲ (+0.26%) |
| Arab Light Crude | $113.15 | −0.88 ▼ (−0.77%) |
| OPEC Basket (OPEC Basket) | $113.44 | −1.98 ▼ (−1.72%) |
| Murban Blend (Murban) | $102.21 | +0.06 ▲ (+0.06%) |
Today’s Market Movements
Brent crude recorded $103.54 per barrel, up 0.94% compared to Friday’s close. West Texas crude (WTI) reached $96.60, with a slight increase of 0.26%.
On the other hand, Arab Light crude fell to $113.15, down 0.77%, and the OPEC basket to $113.44, with a decline of 1.72%. This decline reflects pressure on heavy and medium crude oil prices in global markets.
Key Influencing Factors
- OPEC+ decisions: Oil markets are awaiting the upcoming OPEC+ meeting and the impact of current production cuts.
- Chinese demand: Improvement in Chinese oil demand indicators supports prices.
- US inventories: Data on US crude oil inventories showed a decline last week.
- Geopolitical tensions: Ongoing tension in the region affects price trends.
Arab Crude and Its Impact on Saudi Arabia
Saudi Arabia relies on oil prices as a main source of revenue. The price of Arab Light crude at $113 is still higher than the financial break-even point for the Saudi budget, giving a comfortable space for government spending and the continuation of Vision 2030 projects.
However, the decline in the OPEC basket by 1.72% gives an indication of pressure on oil prices in general, and may be an indicator that the coming weeks will see greater fluctuations.
What Does This Mean for the Consumer?
The stability of oil prices at these levels — between $96 and $103 — means the continuation of current fuel prices without significant changes. Gasoline and diesel prices in Saudi Arabia are linked to global oil prices, and any major change in Brent or WTI could be reflected in local pricing in the coming months.
📊 Summary: Brent at +0.94%, WTI at +0.26%, Arab Light crude at −0.77%. Markets are awaiting the upcoming OPEC+ meeting.
Source: futures contract price data — Oilprice.com (update May 24, 2026)
