The volatility represents only the 14th occurrence since 1988 where crude rose over 5% intraday and closed down more than 2%. This reversal pushed major US equity indices into the green and lifted Treasury prices as traders reduced bets on Federal Reserve interest rate hikes. The price surge had briefly outweighed the impact of the Trump administration's recent decision to ease sanctions on Russian energy exports.
Tuesday, October 20, 2026
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WTI Crude Settles at $101.79 After Reversing 5 Month High
Commodities4 hours ago
US oil futures ended Tuesday's session in the red after an early rally driven by energy infrastructure attacks was erased. NYMEX WTI crude settled at $101.79 a barrel, down 1.8%, after peaking between $107 and $110 during the day. Brent crude similarly hit a 5 month high, surpassing $113, following claims by the Houthis of strikes on Aramco facilities at Yanbu and the Shaybah oilfield, alongside reports of a tanker hitting a mine near the Strait of Hormuz.
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