Oil Price in United Kingdom of Great Britain and Northern Ireland — Brent & WTI Crude Today
Live Brent and WTI crude oil prices with real-time charts. Track how global oil prices affect energy costs in United Kingdom of Great Britain and Northern Ireland. United Kingdom of Great Britain and Northern Ireland consumes approximately 1.4 million bbl/day of crude oil.
Brent Crude Oil
$74.05
USD / barrel
Updated: 2026/8/17 02:58:08
WTI Crude Oil
$71.07
USD / barrel
Updated: 2026/8/17 02:58:08
Brent–WTI Spread
$2.98
Brent $74.05 − WTI $71.07
The Brent-WTI spread reflects the price premium of Brent over WTI crude oil. A moderate spread suggests normal market conditions.
Oil Market & United Kingdom of Great Britain and Northern Ireland
The United Kingdom is historically tied to Brent crude, which is named after the Brent oilfield in the North Sea. Although UK North Sea production has declined, the country remains an important player in global oil trading through London's ICE exchange.
Classified here as a significant producer outside opec+, United Kingdom of Great Britain and Northern Ireland trades against Dated Brent. 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 United Kingdom of Great Britain and Northern Ireland settles at.
Fuel prices at the pump in United Kingdom of Great Britain and Northern Ireland
Crude oil is only part of what drivers in United Kingdom of Great Britain and Northern Ireland pay. Fuel duty, VAT, refining and distribution costs sit on top of the Brent benchmark. These pages break the pump price down component by component.
Oil Price in United Kingdom of Great Britain and Northern Ireland — FAQ
Where United Kingdom of Great Britain and Northern Ireland sits in the crude market
| Role in the crude market | Significant producer outside OPEC+ |
|---|---|
| Priced against | Dated Brent |
| Refining capacity | Refines mainly for the domestic market |
| Region | Western Europe |
| Pricing currency exposure | GBP against USD |
| Approximate consumption | 1.4 million bbl/day |
| Retail pricing regime | Market-set pump prices |
United Kingdom of Great Britain and Northern Ireland produces at scale outside the OPEC+ framework, so its output responds to price and drilling economics rather than to a negotiated quota. That makes it a swing factor the cartel has to plan around: when Brent rises far enough to make new projects work here, the supply response arrives with a lag and caps the rally.
Dated Brent is the reference for Atlantic Basin, European and West African trade, so the headline Brent price maps fairly directly onto import and export contracts here.
United Kingdom of Great Britain and Northern Ireland refines for its own market. Domestic refining means crude is imported or produced and converted locally, so the local fuel price reflects crude cost plus the domestic refining margin rather than the landed cost of finished product. Refinery outages and turnaround schedules can therefore move pump prices here independently of Brent.
Crude is invoiced in US dollars, so buyers in United Kingdom of Great Britain and Northern Ireland face two prices at once: the Brent price and the GBP exchange rate. A weakening GBP raises the local cost of a barrel even when Brent is flat, which is why domestic fuel prices in currency-exposed markets often fail to fall when the benchmark does. The reference rate used in the estimates on this site is 0.79 GBP per USD.
See the full country list on the oil price by country index, or compare the two global benchmarks on Brent vs WTI.
Oil Prices in Western Europe
Compare crude oil price dynamics across Western Europe. Each page tracks live Brent & WTI benchmarks and how they flow through local fuel markets and refining systems.