Business · Energy & Commodities · 2 hrs ago
Oil prices dip after three days of gains driven by Middle East tensions
Oil prices edged down after three days of gains as traders weighed the risk of fresh supply disruptions.
Brent crude traded near $106 a barrel, while US oil was near $93.
The recent rise followed concerns that widening conflict in the Middle East could hinder the recovery of oil supplies from the region.
Conflict has pushed oil prices up 70% this year, and attacks on Saudi Arabia and tankers near the Strait of Hormuz have led more vessels to avoid the Gulf.
Saudi Arabia is working to ship more oil without using the strait, including plans to increase pipeline capacity.
Recent exports from the Middle East have recovered sharply, but analysts warn that this does not mean the market can withstand another major interruption.
The United States said violations had occurred under a Russia-Ukraine energy ceasefire, while Ukraine said it would continue attacks because its energy infrastructure was still being targeted.
Oil prices edged lower after rising for three consecutive sessions amid concerns that wider conflict in the Middle East could disrupt the region’s supply recovery.
Brent traded near $106 a barrel after gaining 6% over the previous three sessions, while US crude was near $93.
The article said oil prices had risen 70% this year as energy markets were disrupted by the US war on Iran.
Saudi Arabia is seeking to expand oil-export capacity that avoids the Strait of Hormuz.
- Who
- Oil traders and energy markets.
- What
- Oil prices dipped after three days of gains driven by Middle East tensions and supply concerns.
- When
- The report was published on October 13, 2026.
- Where
- Global oil markets, amid tensions in the Middle East and disruptions around the Strait of Hormuz.
- Why
- Prices edged down after rising for three sessions; the article said fears of supply disruption had driven the gains.
This story does not have two clearly opposing sides.
US envoys Jared Kushner and Steve Witkoff told Ukrainian officials that allowing Russian diesel exports was part of efforts to restart negotiations to end the war, according to people cited by Reuters.
Brent rose 6% over three sessions amid concerns about Middle East conflict and oil supplies.
Oil prices edged lower, with Brent trading near $106 a barrel and US crude near $93.
- Brent crude
- Near $106 a barrel
- US crude
- Near $93 a barrel
- Brent's previous three sessions
- Up 6%
- Oil prices this year
- Up 70%
- Saudi export capacity
- Aramco could add 1.2 million barrels a day within 7 weeks
- Saudi pipeline plan
- Increase capacity by 40% to 10 million barrels a day within 2 to 3 years
What people are saying
The past few days have been filled with a confusing stream of news
This recovery has put downward pressure on prices, but it has also made the market vulnerable to another major supply disruption
Just because the market has found ways to keep oil flowing does not mean it can handle another major disruption, and this is the risk the market may be underestimating
Aramco can add export capacity of 1.2 million barrels a day within 7 weeks
Sources
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