Oil Price in Lebanon — Brent & WTI Crude Today

Lebanon has no significant oil production and imports all of its fuel, though offshore exploration in its waters has drawn interest. Economic crisis and subsidy removal have amplified the impact of Brent-linked import prices.

Classified here as a net importer, Lebanon trades against the Dubai/Oman average, with Brent for westbound cargoes. That is the pricing reference the sections below work from — the headline Brent number quoted at the top of this page is the global marker, not necessarily the price Lebanon settles at.

Lebanon produces no meaningful volume of crude, so every barrel consumed has to be bought at an internationally set price. That makes the Brent benchmark a direct input into the trade balance: a sustained move in crude shows up in the current account, in the currency, and eventually in domestic inflation.

Official selling prices for Asian buyers are set as a differential to the Dubai/Oman average, while cargoes heading west are priced against Brent. The Brent–Dubai spread therefore steers which direction barrels flow.

Lebanon has no significant refining capacity, so it imports finished fuel rather than crude. Its pump prices follow product cargo quotations — which include the exporting refiner's margin and the freight for the route — so local prices can rise even in weeks when Brent is falling, if refining margins or shipping rates are tightening.

Crude is invoiced in US dollars worldwide. Where local prices are quoted in dollars or in a dollar-pegged currency, that removes one layer of volatility: buyers in Lebanon face the crude move on its own, without an exchange-rate move stacked on top of it.