Brent Steadies as Traders Monitor Mideast Flows

2026-10-19 23:31 By Jam Kaimo Samonte 1 min. read

Brent prices steadied above $109 per barrel on Tuesday, holding recent gains as investors weighed escalating conflicts in the Middle East and Eastern Europe against signs of robust energy flows from the Persian Gulf.

US Energy Secretary Chris Wright said Persian Gulf oil shipments had recovered to about 80% of pre-war levels, although refined-product deliveries remained limited.

The Trump administration is also authorizing the sale of sanctioned oil tankers to enable them to transport crude legally, with the global “dark fleet” estimated at around 1,600 vessels.

Meanwhile, Iran continued to assert control over the Strait of Hormuz, with maritime authorities reporting multiple attacks on commercial ships.

Saudi Arabia and Iran-backed Houthi militants in Yemen also traded strikes, while Russia and Ukraine resumed attacks on energy infrastructure.



News Stream
Brent Crude Falls for 2nd Session
Brent crude fell below $91 a barrel on Tuesday, its lowest level since late August, extending a 5.9% decline on Monday, as investors increasingly anticipated a diplomatic resolution to the Middle East conflict. US President Donald Trump signaled that further strikes on Iran may not be necessary. Trump described Iran’s military capabilities as effectively defeated, while maintaining that the US remained prepared to act if needed. Meanwhile, congressional Democrats are considering using the upcoming government funding deadline to pressure the administration towards ending the conflict. Oil prices reversed sharply in November, as de-escalation hopes grew and exports from the region continued to recover. Despite ongoing attacks on shipping, traffic through the Strait of Hormuz increased, bringing Middle Eastern oil shipments close to pre-war levels. Saudi shipping firm Bahri also said it was sending tankers through the waterway in coordination with the US military.
2026-11-10
Brent Falls for 2nd Session on Iran Deal Prospects
Brent crude fell toward $90 per barrel on Tuesday, extending losses from the previous session and hitting its lowest level since late August amid diplomatic efforts to end the Middle East conflict. President Donald Trump expressed optimism about a possible resolution, citing “momentum toward an end” to the conflict following his meeting with Qatar’s prime minister. Meanwhile, Congressional Democrats are considering using the Dec. 11 government shutdown deadline to pressure Trump into ending the war. However, tensions remain elevated as US forces reportedly launched another strike on Iran’s Qeshm Island, while US Secretary of State Marco Rubio tempered expectations for progress in negotiations. Tanker vessels also remained targets of attacks in the Strait of Hormuz, while clashes involving Saudi Arabia and Iran-backed Houthis continued. Elsewhere, investors are awaiting monthly oil market reports from the US EIA, OPEC and IEA for further insights into global supply and demand.
2026-11-09
Brent Oil is down by 5.02%
Brent Oil decreased 5.02% to 93.38 USD/Bbl
2026-11-09