Brent crude futures traded at $114.60 a barrel at about 10:50 a.m. Beijing time on Monday, October 26, 2026, down 1.8% from Friday’s settlement after a week in which the benchmark gained about 6%.

Key Takeaways

  • Brent settled at $115.81 on Monday and slipped to $114.68 in Asian trading on Tuesday.
  • Houthi claims of strikes on Saudi facilities had not been independently confirmed.
  • Murban crude rose about 3% on Monday, moving in the opposite direction to Brent.

Brent crude retreats from Friday settlement

Friday’s Brent settlement of $116.72 a barrel was its highest since April. West Texas Intermediate also fell on Monday, trading at $101.10 a barrel at about 10:50 a.m. Beijing time, down roughly 2.1%.

The reason for Monday’s decline was not immediately clear. The price moves followed a weekend of claims and interception statements involving Saudi Arabia, as well as a visit by Qatari mediators to Tehran.

ItemDetails
Brent futures$114.60 a barrel at about 10:50 a.m. Beijing time on October 26
West Texas Intermediate$101.10 a barrel at about 10:50 a.m. Beijing time on October 26
Murban crudeAbove $118 a barrel on October 26

Saudi strike claims remain unconfirmed

On Saturday, October 24, the Houthis said they had struck Aramco’s Yanbu facility, the Rabigh refinery and King Khalid International Airport in Riyadh. Saudi Arabia had not confirmed the claims, and no hit on oil infrastructure had been independently confirmed.

The Saudi-led coalition said it intercepted two ballistic missiles aimed at Yanbu and Taif. On Sunday, it said it had intercepted further drones and missiles aimed at Riyadh, Khamis Mushait and the southern region.

Murban moves higher

Abu Dhabi’s Murban crude rose about 3% to above $118 a barrel on Monday, roughly $3.40 above Brent. Murban loads at Fujairah, outside the Strait of Hormuz, while Yanbu is the Red Sea outlet for Saudi Arabia’s East-West Pipeline.

Next milestone

The Federal Reserve’s next interest-rate decision is scheduled for Wednesday, October 28.

Read More News

More FinanceVelix news

Disclaimer

This FinanceVelix article provides general information, not personalized financial, investment, legal, or tax advice. Market prices, interest rates and economic conditions can change; investments carry a risk of loss. Facts reflect the material available when published and may change. Check important information independently and consult a qualified professional when needed. Mentioning an asset, company, or service is not an endorsement.