The price rally follows an EIA report that US crude inventories fell 8.6 million barrels for the week ending Oct. 9, and total commercial petroleum stocks dropped by 13.4 million barrels. While gasoline reserves rose by 3.5 million barrels, distillate stocks fell 2.5 million barrels to 12% below the five year average. Factors contributing to the draw include a 790,000 bpd drop in imports and production losses of 300,000 bpd caused by Hurricane Isaias.
Tuesday, October 20, 2026
Story
US Crude Futures Cross $100 for First Time in Month
Commodities4 days ago
West Texas Intermediate contracts gained more than $2 on Friday to reach their highest price since September 17. Futures broke a psychological barrier as markets reacted to a refinery outage in Russia and heightened supply risks in the Middle East, where Iranian tanker strikes have disrupted shipping in the Strait of Hormuz. Brent futures also climbed toward $107 a barrel, supported by escalating tensions between the US and Iran.
Looking for more context or analysis?
Tilt chat provides reliable, tailored insights, alerts, and automations.