Oil Prices

A tall land drilling rig with equipment and soil piles at its base stands in a bare ploughed field under heavy grey clouds.

Oil Averaged $96 in the Spring. The Economies of America's Oil States Shrank.

In the second quarter, when West Texas crude averaged $95.65 a barrel, the current-dollar economies of Alaska, New Mexico, Texas, North Dakota, Wyoming and West Virginia grew faster than any others. Measured in real terms, West Virginia, Wyoming, Alaska and North Dakota shrank, along with Kansas and Nebraska. Real mining output fell in every big energy state. The oil price raised the value of what they produced, not the amount.

By Thomas Gutierrez 19 hours ago

Oil pump jacks in a field of tall golden grass under a pale sky near Bakersfield, California.

The Numbers

Oil Is Up 61 Per Cent Since February. American Natural Gas Costs What It Did a Year Ago.

Brent crude averaged $114 a barrel in September, up from $71 in February. Natural gas at Henry Hub averaged $2.95 per million British thermal units, a few cents below September 2025, while buyers in Europe and Asia were paying $24 to $27. The United States is producing record amounts of gas, and its export terminals are already running flat out.

By Daniel Okafor October 3, 2026

Tagged stories

Oil Averaged $96 in the Spring. The Economies of America's Oil States Shrank.

Oil Is Up 61 Per Cent Since February. American Natural Gas Costs What It Did a Year Ago.