The rally followed unconfirmed reports of thermal anomalies near the East-West oil pipeline in Saudi Arabia's Yanbu region, though analyst Rory Johnston warned the reports remained unverified. While Irib suggested the anomalies indicated the pipeline had been targeted, others noted Saudi Arabia loaded 13 million barrels at the Yanbu port on Thursday, its highest daily volume in six months. Geopolitical tension further increased after Iran placed its military on high alert for 72 hours.
Tuesday, October 20, 2026
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Brent Crude Hits $110 Barrel for First Time Since May 20
Commodities4 days ago
Global energy benchmarks surged Friday on signs of renewed instability in key oil shipping corridors. Brent futures touched a peak of $110 a barrel before ending the session at $109.86, up 3.72%, the highest price level seen since May 20. WTI crude oil settled at $101.41 per barrel, rising 3.51%, as markets absorbed risks of disruption to production in the Middle East.
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