Crude Oil Rises to 1-Month High

2026-10-15 16:59 By Andre Joaquim 1 min. read

Crude oil rose further to over $98 per barrel on Thursday, the highest in one month, as markets continued to focus on mounting risks to supply in the Middle East.

Repeated strikes on commercial vessels crossing the Strait of Hormuz resulted in the sinking of a Singapore-flagged container ship, extending the record-high rates for tankers in the Persian Gulf.

The events also dimmed prospects that oil exports from GCC countries could pick up, adding further strain to the global supply backdrop.

On top of that, Houthi missile and drone attacks on Saudi Arabian energy infrastructure added to export disruptions, with some tankers reportedly avoiding their usual loading areas.

Consequently, data from the EIA showed that crude oil stockpiles in the US fell by 8.6 million barrels in the week to October 9th, the sharpest decline since February.

In addition, the federal Strategic Petroleum Reserve remained unchanged near its record low.



News Stream
Crude Oil Rises to 1-Month High
Crude oil rose further to over $98 per barrel on Thursday, the highest in one month, as markets continued to focus on mounting risks to supply in the Middle East. Repeated strikes on commercial vessels crossing the Strait of Hormuz resulted in the sinking of a Singapore-flagged container ship, extending the record-high rates for tankers in the Persian Gulf. The events also dimmed prospects that oil exports from GCC countries could pick up, adding further strain to the global supply backdrop. On top of that, Houthi missile and drone attacks on Saudi Arabian energy infrastructure added to export disruptions, with some tankers reportedly avoiding their usual loading areas. Consequently, data from the EIA showed that crude oil stockpiles in the US fell by 8.6 million barrels in the week to October 9th, the sharpest decline since February. In addition, the federal Strategic Petroleum Reserve remained unchanged near its record low.
2026-10-15
Crude Oil Hits 4-week High
Crude Oil increased to 98.10 USD/Bbl, the highest since September 2026. Over the past 4 weeks, Crude Oil lost 4.24%, and in the last 12 months, it increased 72.11%.
2026-10-15
Crude Oil Hovers at $95
Crude oil fluctuated around $95 a barrel on Thursday as traders weighed mounting shipping risks in the Strait of Hormuz against concerns over weakening global demand. The sinking of a Singapore-registered vessel in the strategic waterway and continued Iranian threats against US warships heightened fears of a prolonged regional conflict. Meanwhile, Houthi missile and drone attacks on Saudi Arabia raised further concerns about potential disruptions to exports, with some tankers reportedly avoiding their usual loading areas. The IEA warned that diesel market tightness could persist into next year, while forecasting global oil consumption would contract by 2.6 million barrels per day in 2026. It also noted that land-based inventories had fallen close to their lowest levels in at least a decade. The latest industry data showed US crude stocks declined by 11.1 million barrels last week.
2026-10-15