Business · Energy & Commodities · 2 hrs ago
Brent crude reaches nearly $110 a barrel amid supply concerns
Brent crude rose to nearly $110 a barrel, its highest level since May, as traders worried about supplies.
It settled Friday at $109.86 a barrel, while US crude settled at $101.41.
Conflicts affecting major energy exporters include Houthi attacks on Saudi Arabia and strikes on energy infrastructure in Russia and Ukraine.
Traders are also watching whether Russia will supply hundreds of millions of barrels of diesel under a proposed deal with US President Donald Trump.
US lawmakers introduced a bill to block the diesel deal, citing concerns that it could help fund Russia's war.
The US also offered up to 17 million barrels from its emergency oil reserve to help contain prices.
Prices may remain sensitive to conflict and supply risks, with investors watching for signs of escalation and for whether the proposed diesel release goes ahead.
Brent crude rose 3.7% on Friday to settle at $109.86 a barrel, after briefly moving above $110 for the first time since May.
Investors are concerned that conflict and uncertainty over Russian diesel supplies could worsen the global supply outlook.
US lawmakers introduced a bill to block President Donald Trump’s proposed release of Russian diesel to global markets.
West Texas Intermediate crude gained 3.5% to settle at $101.41 a barrel.
Brent rose 4.9% over the week, while US crude gained 10.4%, according to Okaz.
- Who
- Brent crude and other oil benchmarks rose. Investors are weighing supply risks.
- What
- Brent briefly reached $110 a barrel and settled at $109.86, up 3.7%.
- When
- Friday, October 16, 2026.
- Where
- Global oil markets; the reports did not specify a single location for the price movement.
- Why
- Investors are concerned about supply disruptions and uncertainty over how much Russian diesel will reach global markets.
US lawmakers opposing the diesel deal
President Donald Trump supporting the diesel deal
Aspect
US lawmakers opposing the diesel deal
They introduced a bill to block the proposed release of Russian diesel, citing opposition to measures that could help Russia finance its war.
President Donald Trump supporting the diesel deal
Trump has said Moscow will follow through with a diesel release.
Aspect
US lawmakers opposing the diesel deal
They oppose measures that could allow Russia to earn revenue from diesel or crude sales.
President Donald Trump supporting the diesel deal
The deal could bring several hundred million barrels of diesel to the market.
CNN reported that the US had developed strike plans that could include a large-yield bomb, according to Hindu BusinessLine.
US lawmakers introduced a bill to block Trump’s proposed Russian diesel release.
Brent briefly rose above $110 a barrel and settled at $109.86.
- Brent settlement
- $109.86 a barrel
- Brent daily gain
- $3.94, or 3.7%
- WTI settlement
- $101.41 a barrel
- Brent weekly gain
- 4.9%
- WTI weekly gain
- 10.4%
7 sources
النفط يلامس 110 دولارات للبرميل لأول مرة منذ مايو
Brent crude hits $110 a barrel for first time since May as supply concerns mount
중동도 우크라도 불안…브렌트유 109달러대, 5개월만에 최고
Brent crude touches US$110 a barrel for first time since May on Middle East, Russia supply fears
برنت يلامس 110 دولارات للبرميل لأول مرة منذ 20 مايو
Ölpreise ziehen an - Zweifel an Trumps Diesel-Deal hieven Brent über 110 Dollar
Brent Oil Taps $110 for First Time Since May as Risks Swirl
What people are saying
After a brief reprieve, the oil market is having to price risk back in, particularly heading into the weekend.
The conflict is likely to escalate.
The standoff status quo is no longer sustainable for the US.