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)
JPMorgan flags 10 mb/d supply disruption; Brent rises to $105.65
JPMorgan reported approximately 10 million barrels per day of oil supply as disrupted six months into the Iran conflict, citing Strait of Hormuz restrictions. Brent crude rose to $105.65 per barrel on 25 September from $102 earlier in the week, while WTI stood at $93.11.
US-China agree $30 billion tariff reduction after Xi-Trump Washington summit
The US and China agreed to reduce tariffs by $30 billion following a three-day summit concluding 26 September 2026; the Busan accord trade truce was extended through 10 January, the PBOC set the yuan reference rate at 6.7489 against the dollar, and Boeing's order position with Chinese carriers was reported as strained.
Houthis seize Hanish islands, extending Red Sea chokepoint control
Houthi forces captured the Greater and Lesser Hanish islands on 15 September 2026, extending their hold over the Bab al-Mandab strait. Saudi Arabia had already increased use of its East-West pipeline for crude exports; a vessel strike near Hormuz was reported by UKMTO on 13 September 2026.
Drone strikes hit Saudi East-West Pipeline; Saudi Arabia shuts system
Saudi Arabia shut down its 1,200-kilometre East-West Pipeline on 11 September 2026 following drone strikes on multiple pumping stations attributed to Houthi rebels, with drones reported launched from Iraq. The extent of physical damage and production volume impact had not been fully assessed at time of reporting.
US Treasury yields hit multiyear highs on 11 September 2026
US Treasury yields rose to multiyear highs and Japanese government bonds declined on 11 September 2026. Oil prices were elevated and rate hike expectations from the Federal Reserve, Bank of Japan, and ECB were reported as contributing factors.
Houthi forces capture Mocha port, securing Red Sea chokepoint control
Houthi forces seized the Red Sea port of Mocha on 11 September 2026 and were reported by Finnhub to have secured control of the Bab al-Mandeb Strait; the strait carries approximately 6.2 million barrels of oil daily and around 80% of northbound LNG shipments to Europe.
Saudi Aramco halts Yanbu loadings after East-West pipeline drone attack; Brent at $108
Saudi Aramco suspended oil loadings at Yanbu on 15 September 2026 after drone attack damage to the East-West pipeline; Brent crude rose to $108 per barrel, the Shanghai Futures Exchange crude contract hit a reported record of $138 per barrel, and TTF natural gas rose 6% to $97.31 per MWh.
Brent crude surpassed $100/barrel amid US-Iran strikes and Red Sea disruptions
Brent crude rose above $100/barrel before falling more than 9% to below $88 following a US military pause, then recovered to $87.95; WTI moved to $84 at peak and settled at $82.89. The S&P 500 fell 1.52% and semiconductor stocks fell 5.33% in a session also capturing the escalation.
BP initiates North Sea oil and gas business sale process
BP formally began a sale process for its North Sea oil and gas business, as reported on 31 July 2026 by Oilprice, Guardian Business, and Bloomberg Markets. BP.L and BP were identified in the brief as directly affected instruments, though no price moves were reported.
Shell Q2 2026 profits rose; Glencore H1 marketing profit reached $3.3 billion
Shell Plc reported a significant Q2 2026 profit increase, with refining and trading divisions identified as primary contributors. Glencore separately reported a $3.3 billion H1 marketing division profit; both results occurred during a period of Iran-related oil market volatility.
Bank of England holds rate at 3.75% in 6-3 MPC vote
The Bank of England MPC voted 6-3 to hold Bank Rate at 3.75% on 30 July 2026, with three members favouring an increase. GBPUSD and UK 10-year gilts were identified in the brief as instruments connected to the decision.
ExxonMobil and Chevron Q2 2026 combined profits exceeded $26 billion
ExxonMobil (XOM) and Chevron (CVX) reported combined Q2 2026 profits exceeding $26 billion, a rise of more than 300% year-on-year, with elevated Brent crude and WTI prices linked to Iran-related geopolitical tensions cited as the underlying driver.
Supertanker Olympic Luck rerouted via Suez after Houthi blockade threat
The supertanker Olympic Luck diverted from the Red Sea to the Suez Canal and Mediterranean route on 27 July 2026 following Houthi threats to Saudi-linked shipping; tanker transits through the Bab el-Mandeb Strait fell to 11 vessels on Sunday, a multi-month low.
US-Iran Hormuz shipping talks progressing; deal not yet finalised
Mediators from Pakistan, Egypt, and Qatar reported on 28 July 2026 that US-Iran talks were progressing toward reviving a Strait of Hormuz memorandum of understanding. The White House was awaiting a Trump–Netanyahu meeting before committing.
US strikes Iran; LNG vessel hit as Hormuz shipping disruptions worsen
A US-owned LNG vessel was struck during a reported exchange of hostilities on 30 July 2026, following new US strikes on Iran attributed to attacks on US forces in Jordan; Saudi Arabian and other Persian Gulf oil loadings were already running at reduced levels prior to the incident.
US strikes IRGC sites after Iran kills three US soldiers in Jordan
Iran struck US installations in Jordan on July 28, killing three soldiers; the US retaliated on July 29 against dozens of IRGC facilities. WTI crude fell approximately $1 at the time of the US military confirmation.
Saudi Aramco considers $5/bbl price rise for Asian crude buyers
Saudi Aramco was reported to be considering raising crude prices for Asian buyers by up to $5 per barrel, with loadings via the Suez-Mediterranean pipeline to Sidi Kerir increasing as the company rerouted exports away from Red Sea corridors. No confirmed pricing decision had been published at the time of reporting.
US-Iran mutual strike pause confirmed; Brent and WTI directly affected
A US-Iran mutual cessation of strikes was confirmed as of 27 July 2026, with no attacks reported in the two preceding nights. Brent crude and WTI were identified by the brief as directly affected by the status of the Strait of Hormuz, through which a significant share of global oil exports transit.
Trump signals imminent Iran strike; crude rises to $91, NASDAQ falls 364 points
Crude oil rose $2.60 to $86.94 on 22 July 2026 following Trump statements on Iran, before trading near $91 on 23 July; the NASDAQ fell 364 points in premarket trading on 23 July as tensions escalated. Iran rejected a US-backed ceasefire proposal, leaving negotiations stalled ahead of the 26–27 July weekend.
Equinor Q2 2026 adjusted operating income rises 76% to $11.482bn
Equinor reported Q2 2026 adjusted operating income of $11.482bn, up 76% year-on-year, and adjusted operating income after tax of $3.225bn, up 93% from $1.670bn. Norway's crude output reached 1.827 million barrels per day in June, exceeding official Norwegian Offshore Directorate forecasts.