BRENTBrent Crude Oil
Brent Crude Oil (BRENT) is a ICE-listed commodity covered by Valdrans. Last close $105.48, +1.01% on the day; +2.84% over 1 week, -1.85% over 4 weeks, +11.28% over 6 months (prices as of 11 Oct 2026).
- Last close (11 Oct 2026)
- $105.48
- Today
- +1.01%
- 1 week
- +2.84%
- 4 weeks
- -1.85%
- 6 months
- +11.28%
Coverage of BRENT(20)
Houthi strikes on Riyadh and Bab el-Mandeb reported; Brent, WTI under pressure
Houthi attacks on Saudi targets near the Bab el-Mandeb Strait and missile strikes on Riyadh were reported on 8 October 2026, with Bloomberg Markets citing upward pressure on oil prices; Riyadh's airport operations were disrupted and remote work orders issued in the Saudi capital.
Chevron, Shell, BP shut Gulf of Mexico platforms ahead of tropical storm
Chevron, Shell, and BP began evacuating non-essential personnel and halting production at Gulf of Mexico offshore platforms on 7–8 October 2026 as a tropical storm approached; no specific price moves for crude benchmarks were reported in the source material.
Supertanker charter hits $76 million, ten times pre-war levels
A supertanker charter from the US Gulf Coast to China was reported at $76 million on 7 October 2026. A separate report on 8 October 2026 noted Gulf-to-East Asia supertanker day rates reached a record $1.4 million per day.
Shell discloses $42/barrel Q3 refining margin, up 75% sequentially
Shell disclosed an indicative Q3 2026 refining margin of $42 per barrel, a 75% sequential rise from $24 per barrel in Q2 2026, surpassing 2022 highs; London-listed shares SHEL were named in connection with the disclosure.
EIA confirms 3.2 million barrel US crude draw; oil prices eased
The EIA reported a 3.2 million barrel draw in US commercial crude inventories for the week ending 2 October 2026, bringing stockpiles to 424.1 million barrels. Oil prices eased around the time of the EIA release amid broader market pressures and developments relating to Venezuelan oil export sanctions.
IEA convenes meeting on 100-million-barrel G7 strategic reserve release
The IEA held an informal Governing Board meeting on 7 October 2026 to discuss a coordinated G7 release of 100 million barrels of oil and diesel stocks over four months; the U.S. withdrew threats of a diesel export ban ahead of the action.
China and Russia diesel export bans tighten global supply; ULSD and gasoil affected
China banned fuel exports for October 2026 and Russia maintained an ongoing diesel export ban, with the US threatening restrictions on European diesel exports; gasoil and ULSD contracts were reported as directly affected by the combined export restrictions.
Aramco CEO: 3 billion barrels lost since Iran war began
Saudi Aramco CEO Amin Nasser stated on 5 October 2026 that the Iran war had removed nearly 3 billion barrels of gross oil supply globally, with over 1 billion barrels drawn from inventories, and that restocking could take up to two years.
Saudi Aramco cuts Asian crude OSP to four-year low, raises European prices
Saudi Aramco set its November Arab Light official selling price for Asian buyers at a $5 per barrel discount to the Dubai/Oman benchmark, the lowest since June 2020, while raising European cargo prices by $3 per barrel. Volatile trading in Brent crude and WTI was reported on 5 October 2026 following the announcement.
Nasdaq composite and Nasdaq 100 closed at record highs on 5 October 2026
The Nasdaq composite (CCMP) and Nasdaq 100 (NDX) reached all-time closing highs on 5 October 2026; the US dollar index (DXY) gained against major currency pairs, Treasury yields rose, and WTI crude oil also rose, attributed to Middle East tensions.
EU gas storage falls short; TTF surges amid Hormuz LNG disruption
TTF natural gas benchmark prices rose sharply from early March 2026 as Strait of Hormuz disruptions cut LNG flows to European terminals; tanker traffic through the strait fell to a two-month low with crude and LNG flows declining 27% from wartime peaks to approximately 10.1 million barrels per day.
G7 releases 100 million barrels; WTI falls 4.63%, Brent drops to $98.72
G7 leaders announced a coordinated release of up to 100 million barrels of crude oil and diesel from EU and IEA member reserves over four months. WTI crude fell 4.63% to $88.64 and Brent crude dropped to $98.72 following the announcement.
PetroChina and Zhejiang Petrochemical suspended refined fuel exports for October 2026
PetroChina cancelled gasoline and jet fuel cargoes and Zhejiang Petrochemical halted exports for October 2026, with Bloomberg Markets and Oilprice reporting Chinese fuel exporters pulled oil-product cargoes to prioritise domestic supply. No benchmark price moves were reported in the brief.
Indian refiners secured tanker tenders amid three Hormuz attacks
Indian refiners awarded tanker tenders to two shipping firms following three attacks near the Strait of Hormuz. Persian Gulf producers relocated cargo transfers farther from the strait; shipping rates were affected by increased Indian refiner demand for tanker capacity.
UK diesel hits record £2/litre amid Gulf supply disruptions, crude above $100
British diesel prices reached an all-time record of £2 per litre on 2 October 2026, while Brent and WTI crude surged above $100 per barrel in September 2026, following supply disruptions attributed to the US-Israel conflict with Iran affecting Gulf crude and refined product flows.
Dated Brent tops $120 as Hormuz drone attacks and China export curbs tighten physical oil
Dated Brent traded above $120/bbl on 2 October 2026, over $19 above ICE Brent futures (LCO) near $101. Drone attacks in the Strait of Hormuz, China's refined product export restrictions, and European diesel stock releases were reported as contributing factors.
RBNZ warns inflation may exceed forecasts; October rate rise flagged
The Reserve Bank of New Zealand stated on 22 September 2026 that near-term inflation may surpass its latest forecasts, citing rising oil prices, and raised the possibility of an additional interest rate increase as early as October.
Trump administration proposes $5 billion fund for Middle East infrastructure rebuild
The Trump administration announced a proposed $5 billion fund targeting energy infrastructure and transit facilities in the Gulf region damaged during a seven-month conflict with Iran, including discussion of alternative routes to the Strait of Hormuz, according to Bloomberg Markets and Finnhub.
US retail diesel hits record $6.50/gallon amid global refining shortage
US retail diesel prices reached a record $6.50 per gallon on 21 September 2026, up from approximately $6.00 per gallon two weeks prior, while Brent crude traded near $100 per barrel and UK diesel prices approached £2 per litre.
Iran proposed Hormuz reopening in seven days if US lifts blockade
Iran conveyed a conditional proposal to reopen the Strait of Hormuz within seven days, with seven conditions, during UN General Assembly discussions on 22–23 September 2026. Brent crude and WTI are directly linked to Hormuz transit volumes, which carry approximately 20% of global daily oil supply.