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Brent reaches nearly $115 - Update-2
- 23 October, 2026
- 15:59
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The growth of oil prices has accelerated, with Brent crude trading at its highest level since early May, Report informs, citing trading data.
December futures for Brent crude rose by 1.34% to $114.69 per barrel on the London ICE Futures exchange, while WTI futures on the NYMEX exchange increased by 1.55% to $101.01 per barrel.
On Thursday, Brent crude rose in price by 4%, and WTI by 2.4%. Oil prices were supported by media reports that the US and Israeli militaries have prepared plans to resume strikes on Iran after the November US midterm congressional elections.
Global Brent crude oil prices have surpassed $114 per barrel for the first time since May 5, Report informs referring to trading data.
The price of Brent crude oil futures for December delivery rose by 0.94% from the previous close, reaching $114.23 per barrel. This marks the first time the price has exceeded that level since May 5.
The price of futures contracts of Brent crude oil for December 2026 delivery on London's ICE has risen above $114 per barrel for the first time since May 5, 2026, according to trade data, Report informs.
As of 1:52 a.m. GMT, the Brent price was up by 0.78% at $114.05 a barrel.
By 2:01 a.m. GMT, the price of Brent had extended gains to 1.37%, reaching $114.72 per barrel. Meanwhile, the price of futures contracts of WTI crude oil for November 2026 delivery was up by 3.93% at $100.97 per barrel.
