‎Oil rises, Brent crude crosses $106

‎<p><img src="https://argaamplus.s3.amazonaws.com/b2d01eff-b008-488c-b03e-a5f5327fbc74.png" ></p> <p class="ckeCaption" >Oil drilling rigs</p> <hr> <p >Oil prices rose in early session today, Oct. 14, as markets assessed renewed geopolitical tensions in the Strait of Hormuz that could affect energy supplies from the Middle East.</p> <p ></p> <p >Iranian officials told Reuters that they are employing new tactics to target ships in the Strait of Hormuz. One official stated that Tehran began using different offensive tactics against ships it considers to be violating its restrictions about ten days ago, adding that this has led to an increase in attacks on such ships.</p> <p ></p> <p >Meanwhile, US President Donald Trump said that "large-scale" oil, gas and mineral exploration operations are set to begin in Greenland.</p> <p ></p> <p >According to data from the General Administration of Customs, China imported 37.1 million metric tons of crude oil in September, equivalent to 9.03 million barrels per day, an increase in the daily import rate of 1.1% on a monthly basis.</p> <p ></p> <p >Separately, the US crude oil inventory report from the American Petroleum Institute is due later this evening, delayed from its usual date due to Monday's Columbus Day holiday.</p> <p ></p> <table align="center" border="1" cellpadding="0" cellspacing="0" width="100%"> <tbody> <tr > <td colspan="4" > <p ><strong><span ><span ><span >Brent, WTI Futures Prices</span></span></span></strong></p> </td> </tr> <tr > <td > <p ><strong><span ><span ><span >Crude</span></span></span></strong></p> </td> <td > <p align="center" ><strong><span ><span ><span >Price ($/bbl)</span></span></span></strong></p> </td> <td > <p align="center" ><strong><span ><span ><span >Change ($)</span></span></span></strong></p> </td> <td > <p align="center" ><strong><span ><span ><span >Change</span></span></span></strong></p> </td> </tr> <tr > <td > <p ><strong><span ><span ><span >Brent (December delivery)</span></span></span></strong></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span ><span >106.33</span></span></span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span ><span >0.64</span></span></span></span></p> </td> <td > <p align="center" ><span ><span ><span >0.60%</span></span></span></p> </td> </tr> <tr > <td > <p ><strong><span ><span ><span >WTI (November delivery)</span></span></span></strong></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span ><span >94.73</span></span></span></span></p> </td> <td > <p align="center" ><span ><span ><span >0.59</span></span></span></p> </td> <td > <p align="center" ><span ><span ><span >0.65%</span></span></span></p> </td> </tr> </tbody> </table> <div class="ckeCaption" >*At 07:54 am Makkah time</div>

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Argaam - UAE News · Trade Publication

Published

14th October 2026

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argaam.com

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