The market reaction followed reports from Irib suggesting that the Saudi East West oil pipeline was targeted, with thermal alerts placed on the pipeline rather than the flare stack. Analysts caution that these reports are very unconfirmed, though Brent continued to break out above September peaks with a session trading range of $104.91 to $109.72 per barrel.
Tuesday, October 20, 2026
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Brent Oil Hits $109.58 on Reported Saudi Pipeline Attack
Commodities4 days ago
Reports of a thermal anomaly in the Yanbu region triggered a spike in energy prices on Friday after monitoring services flagged possible damage to a key oil conduit. Brent crude futures climbed more than $3 to a session high of $109.58 per barrel, while US oil futures rose over $3 to reach a high of $101.02, the highest level for the asset since September 21.
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