The gains occurred despite news of a US-Russia diesel deal and claims from President Donald Trump of an energy ceasefire between Russia and Ukraine. Supply risk returned to the center of the market as Ukraine's President Volodymyr Zelensky accused Russia of striking six Ukrainian energy facilities on Monday, while doubts grew regarding the stability of the reported ceasefire.
Tuesday, October 20, 2026
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Brent Oil Settles at $106.65 After Houthi Attacks on Saudi Arabia
Commodities8 days ago
West Texas Intermediate crude futures for November finished Monday up 2.06% at $93.74 a barrel, adding $1.89. Brent crude futures also gained, settling 1.84% higher at $106.65, or an increase of $1.93. Prices rose after Yemen's Iran-backed Houthi movement launched strikes on Saudi Arabia and reports surfaced that a third oil supertanker was hit and caught fire in the Strait of Hormuz.
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