Follow-Up: Brent Settles at $109.86, Its Highest Since May, After Touching $110; WTI Closes at $101.41, Up 10.4% for the Week
New York — Oil prices settled sharply higher on Friday, October 16. December Brent crude rose $3.94, or 3.72%, to settle at $109.86 a barrel, its highest settlement since May 19 and a fourth straight weekly gain, with the contract up $5.14, or 4.91%, for the week, according to Dow Jones Market Data. Brent briefly touched $110 a barrel during the session, the first time since May, Reuters reported.
U.S. West Texas Intermediate crude for November delivery rose 3.5% to close at $101.41 a barrel, and market summaries consistently put its weekly gain at 10.4%, well above Brent's.
Supply risks drove the move. Reuters reported the same day that missiles landed at Aden International Airport in Yemen and that a Saudi-led coalition had intercepted a ballistic missile headed for Yanbu, the Red Sea port Saudi Arabia uses to export crude without transiting the Strait of Hormuz. Continued attacks on shipping around Hormuz and mutual Ukrainian and Russian strikes on energy facilities also left traders unwilling to hold short positions into the weekend. The rally came in a week when U.S. crude inventories posted a larger-than-expected draw and the International Energy Agency agreed to speed up emergency stock releases.
(Sources: Dow Jones Market Data, via Morningstar; Reuters, October 16, 2026)
Source: 道琼斯市场数据、路透社
Published by GSM · USA (original Chinese edition)
Photo: 图：油轮（资料照片）。Jernej Furman 摄，CC BY 2.0，经 Wikimedia Commons / Photo: An oil and gas tanker (file photo). By Jernej Furman, CC BY 2.0, via Wikimedia Commons
