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Oil prices set for sharp weekly fall after US midterms
Oil prices were heading for one of their steepest weekly declines in years on Friday, as election results raised hopes of easing conflict in the Middle East. Brent crude was around $97.55 a barrel and set for a fall of about 16%, while attacks on tankers in the Gulf and Strait of Hormuz kept supply concerns alive.
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Oil Prices Rebound as Strait of Hormuz Supply Risks Persist
Oil prices recovered on Wednesday after falling to a four-week low, with Brent at $103.60 a barrel and U.S. crude at $95.98. Traders turned their focus back to the Middle East, where consultancy data showed oil flows through the Strait of Hormuz fell in October from September. The figures challenge reports that Gulf exports had returned to pre-war levels.
Oil Rises Iran War Uncertainty Shadows Markets After U.S. Vote
Oil prices declined early Wednesday as investors weighed U.S. midterm election results and uncertainty over the Iran war. Brent crude traded below $104 a barrel, while U.S. benchmark crude stood around $96. The vote also unsettled stocks and the dollar, with investors assessing possible changes to policy and regulation.
Oil prices bounce back after report of strike on Iran
Oil prices rose after reports of a U.S. strike on Iran’s Qeshm Island reversed some of Monday’s steep losses. Brent traded at $105.25 a barrel and U.S. West Texas Intermediate at $96.93 in early Asian trade on Tuesday, as the report revived concerns over escalation and the risk of supply disruptions.
Oil Prices Slide 3% as US-Iran Peace Hopes Ease Tensions
Oil prices fell as optimism grew over mediation talks involving Iran and Qatar and a possible US-Iran peace deal. Brent crude traded at $109.82 per barrel and West Texas Intermediate at $100.57. The decline came despite Iran’s foreign minister saying Tehran was prepared for both defence and diplomacy, while analysts warned that renewed hostilities could quickly shift market sentiment.
OPEC+ keeps December oil output steady as risks rise
Seven core OPEC+ members agreed to keep oil production steady in December as threats to shipping and concern about renewed U.S. strikes against Iran keep supply risks elevated. Brent crude for January delivery settled above $113 a barrel on Friday. The group is due to decide January output levels at a meeting on Nov. 29.
Big Oil raking huge profits as US drivers face costly fuel
ExxonMobil earned $15.4 billion in the third quarter, while Chevron reported adjusted earnings of $10.4 billion as the US-Iran war pushed oil prices higher. US drivers paid an average $4.12 a gallon for gasoline, a record for the quarter, while households have paid an estimated $1,184 more on average since the war began. President Donald Trump’s oil holdings also rose in value, according to congressional Democrats.
Oil Traders Brace for Iran Risk After U.S. Midterms
Oil traders are weighing the risk of renewed U.S. strikes on Iran after the November 3 midterm elections, according to ING strategists. They say prices could fall if the elections pass without new attacks, as the market’s risk premium fades. Tanker attacks and uneven reports on oil flows through Hormuz are complicating that outlook, while diesel prices have weakened.
Brent Crude Falls 0.89% to $115.68 in Asian Trading on Monday
Brent crude fell 0.89% to $115.68 a barrel and U.S. West Texas Intermediate dropped 1.03% to $102.22 in Asian trading on Monday, CNBC reported. The pullback followed a rise that had taken Brent to its highest level since April. Traders are also watching central bank rate decisions due this week.
Healey Backs Rosebank Drilling as Fahnbulleh Weighs Decision
Chancellor John Healey supports approving the Rosebank oilfield licence, while Energy Secretary Miatta Fahnbulleh says she alone will make the final decision. The project remains on hold amid environmental concerns and disagreement over its contribution to UK energy security. A decision is expected before the end of the year, with Labour MPs warning of opposition if approval goes ahead.
Oil price reaches $116.03 on October 23 2026
Brent crude was priced at $116.03 per barrel at 7:15 a.m. Eastern Time on October 23, according to Fortune, up $2.82 from the previous morning and around $50 higher than a year earlier. The move matters beyond energy markets: crude is a major component of gasoline costs, though refining, transport, taxes and station markups also shape pump prices.
Oil hits five-month high as Middle East fears rattle markets
Oil prices climbed above $115 a barrel on Friday, reaching their highest level since May as threats by Tehran to target energy and other infrastructure raised fears of a fresh escalation in the Middle East. The Guardian reported that Brent crude rose 1% during Friday morning trading. The move came as global stocks wobbled amid wider market concerns.
Oil price rises above $115 as Iran tensions rattle markets
Brent crude rose 1% to above $115 a barrel on Friday, reaching its highest level since May. The Guardian reported that prices climbed after Tehran threatened attacks on Gulf energy and technology infrastructure if a new US-Israeli offensive targets Iran. Reports of possible renewed US strikes and risks to shipping through the Strait of Hormuz have added to market concerns.
Oil prices surge above $111 as Saudi attacks raise supply fears
Brent crude climbed above $111 a barrel as Houthi attacks in Saudi Arabia and incidents involving vessels near the Strait of Hormuz heightened concerns about oil supply. The price reached $112.68 during Thursday’s session, its highest since May 18, according to Reuters. U.S. officials also ordered some personnel to leave Saudi Arabia, while attacks and disruptions elsewhere added to market concerns.
Euro drops high energy pressure tests France and markets
The euro came under pressure as protests over living costs and public services shook France, while European stocks fell. Energy prices remain part of the broader squeeze on household budgets, and unrest has disrupted businesses. The market moves came as oil prices dropped after the United States paused new sanctions on Russian energy, adding another factor for investors tracking the region’s economic outlook.
Brent Crude Rises to $108.70, Putting Gas Prices in Focus
Brent crude stood at $108.70 per barrel at 7:15 a.m. Eastern Time on October 14, according to Fortune, up $1.41 from the previous morning and roughly $46 higher than a year earlier. The rise can feed through to gasoline prices, though refining, distribution, taxes and station margins also shape what drivers pay.
Oil Prices Fall to $105.72 but Remain $40 Above Last Year
Oil was priced at $105.72 per barrel using Brent as the benchmark at 6:45 a.m. Eastern Time, down $2.61 from the previous morning. The price remains around $40 higher than a year earlier. Changes in crude prices can affect fuel costs, though pump prices also reflect refining, transport, taxes and station markups.
Brent Crude Rises to $108.33, Putting Pressure on Fuel Prices
Brent crude reached $108.33 per barrel by 7 a.m. Eastern Time, up $3.59 from the previous morning and about $42 from a year earlier, according to Fortune. Higher crude costs can feed through to gasoline prices, while declines often reach the pump more slowly.
Oil Prices Top $103 As Traders Watch Middle East Tensions
Oil prices today 2026 climbed to $103.37 a barrel as war fears, supply concerns and a fresh U.S. military deployment kept traders on edge. The move matters beyond crude, with gasoline costs, refinery margins and even natural gas demand tied to the next swing.
Brent Oil Rises After U.S.-Iran Deal Deadline Passes
Brent oil price climbed after Iran and the U.S. ruled out extending a June memorandum of understanding. The benchmark settled at $90.87, while one morning reading put oil at $91.53 a barrel.
Oil Prices Jump After U.S. Vows Toughest Sanctions on Iran
Brent oil price rose 2.4% to $93.78 a barrel after the U.S. signaled tougher sanctions on Iran. The move came as Washington, the UAE and traders reacted to rising geopolitical risk.