Business · Energy & Commodities · 2 hrs ago
Oil prices fall as Brent drops to about $107.8 a barrel
Oil prices fell on Monday, with international benchmark Brent crude down nearly 2% to about $107.8 a barrel.
US benchmark WTI fell about 1.5% to $99.91, below $100.
The drop followed Brent's five-month high near $110 on Friday.
Prices have risen sharply as stalled talks between Iran and the United States and conflict in the Middle East raise concerns about oil supplies.
On Monday, two tankers were attacked in the Persian Gulf, while Yemen's Houthi militia attacked Saudi Arabia.
US Energy Secretary Chris Wright said Persian Gulf oil deliveries had recovered to about 80% of their pre-conflict level, but shipments of refined products remained restricted.
Wright is discussing diesel stock releases with European allies, while developments in the Middle East remain a key influence on oil prices.
Brent crude fell on Monday after reaching a five-month high of $110 a barrel on Friday.
Early trading put Brent at $107.83 a barrel, while ANSA reported it at $107.8.
US WTI crude fell 1.48% to $99.91 a barrel, according to ANSA.
The Middle East remained a key factor for oil prices amid attacks on tankers and a Houthi attack on Saudi Arabia.
US Energy Secretary Chris Wright said Persian Gulf oil supplies had recovered to about 80% of their pre-conflict level.
- Who
- Brent and US WTI crude prices. US Energy Secretary Chris Wright also commented on Persian Gulf supplies.
- What
- Oil prices fell after Brent reached $110 a barrel, its highest level since May.
- When
- Monday, October 19, 2026, after Brent’s Friday high.
- Where
- The prices were reported in early trading; the supply concerns relate to the Middle East and Persian Gulf.
- Why
- Not stated. The articles describe mixed signals from the Middle East and Wright’s comments on recovering oil supplies.
This story does not have two clearly opposing sides.
Brent climbed to $110 a barrel, its highest level since May.
Brent fell in early trading to $107.83 a barrel, according to cash.ch.
ANSA reported Brent at $107.8 a barrel and WTI at $99.91.
- Brent on Friday
- $110 a barrel
- Brent on Monday
- $107.83 a barrel in early trading, according to cash.ch
- Brent change
- Down nearly 2% in early trading
- WTI on Monday
- $99.91 a barrel, down 1.48%, according to ANSA
- Persian Gulf oil deliveries
- About 80% of pre-conflict levels, according to Chris Wright
3 sources
What people are saying
Persian Gulf oil deliveries have recovered to about 80 percent of their level before the conflict.