Brent crude rose slightly on Monday, October 5, 2026, recovering above $100 a barrel to close at $102.40 per barrel, while US West Texas Intermediate (WTI) futures fell 0.50% to $90.65.
The recovery in Brent follows a decline on Friday that pushed the international benchmark below $100 for the first time in recent sessions, reflecting easing concerns over supply disruptions in the Gulf.
Higher oil loadings through the Strait of Hormuz and the continued operation of Saudi Arabia’s East-West pipeline have helped restore some confidence in global supply, reducing fears of prolonged disruptions to crude exports. The decision by G7 countries to release an estimated 100m barrels of reserve oil has also helped strengthen sentiments around global oil prices.
However, the absence of a clear diplomatic breakthrough between the US and Iran continues to sustain a geopolitical risk premium in oil prices particularly its impact on shipping through the Strait of Hormuz, a critical route for global crude oil supplies.
The latest price movements reflect the volatility that has characterised the oil market since mid-September, as traders respond to shifting expectations around Middle East supply recovery and diplomatic efforts.
