Brent crude price fell to $114.68 a barrel in early Asian trading on Tuesday, October 27, 2026, down $1.13, or 0.98%. The decline followed a volatile Monday session and came ahead of a Federal Reserve interest-rate decision.

Key Takeaways

  • Brent settled at $115.81 on Monday after briefly trading above $117.
  • Officials from Saudi Arabia, Turkey and Pakistan met Iranian officials in Tehran and agreed to keep talking, Iranian state media said.

Brent crude price extends its decline

Monday’s Brent settlement was down 91 cents from Friday. The benchmark had fallen to about $114.51 earlier in Monday’s session before climbing above $117.

West Texas Intermediate traded at $100.83 on Tuesday morning, down 0.91%, after settling at $101.76 on Monday. The price moves coincided with diplomatic developments, but the available information does not establish a definitive cause.

Talks and attacks continue

The Tehran meeting brought senior Saudi, Turkish and Pakistani officials together with Iranian officials. Iranian state media said the four countries agreed to continue discussions.

Meanwhile, the Saudi-led coalition said it destroyed three drones aimed at Riyadh and southern regions on Monday. The US Department of Energy reported that the Strategic Petroleum Reserve fell to 282.6 million barrels last week, its lowest level since October 1982.

Next milestone

The Federal Reserve’s two-day meeting began October 27, with its decision due Wednesday, October 28.

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