Portugal

Active of the day: Oil exceeds 117 dollars and reaches maximum six months

Read full article at source ↗

Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 23/10/2026, 17:26:25 UTC.

Briefings

Oil futures for Brent surpassed $117 per barrel, marking the highest level since mid-April amid escalating tensions in the Middle East. The Brent contract rose 3.5% to $117.17, driven by fears of renewed US attacks on Iran following Houthis' attacks on Saudi Arabia. While WTI traded around $102.56, the market remains uncertain about physical oil supply due to ongoing conflicts and potential supply disruptions.

Key points

• Brent futures hit a record high of $117.17 per barrel, the highest since mid-April, driven by fears of renewed US attacks on Iran following Houthis' attacks on Saudi Arabia.
• The market remains uncertain about physical oil supply due to ongoing conflicts and potential supply disruptions, with experts noting that geopolitical risks outweigh current supply levels.

Context

Oil futures for Brent surpassed $117 per barrel, marking the highest level since mid-April. The Brent contract rose 3.5% to $117.17, driven by fears of renewed US attacks on Iran following Houthis' attacks on Saudi Arabia. The market remains uncertain about physical oil supply due to ongoing conflicts and potential supply disruptions.

Limitations

Data reflects the third week of gains as of October 23, 2026. Uncertainty remains regarding the exact quantity of physical oil available, with conflicting reports on Gulf shipping volumes versus Kpler data suggesting a return to pre-war levels. Supply disruptions from the Middle East and potential escalation of hostilities remain key unknowns affecting global oil supply.

Generated by Bittrees-hosted qwen35-2b sha256:aaf42c8b7c3c on 23/10/2026, 22:10:16 UTC. Based on publisher-provided feed evidence; may not cover the full original article. Check the source for details.

View archived briefing on IPFS
bafybeiexxmbqdrolts4pfh2vc7qafwk5xh2gdecxxq7hg44ewkilrvzjji