Oil prices opened lower on Monday, October 19, 2026, giving back part of Friday’s sharp gains. Brent crude traded around $108 a barrel after closing last week at its highest level since May. Prices change through the day, so the figures here reflect the time of writing.
Brent settled at $109.86 a barrel on Friday, October 16, up $3.94 or 3.7 percent on the day. It briefly touched $110, the first time since May 19. The global benchmark gained 4.9 percent over the week. US crude, West Texas Intermediate, settled at $101.41, its highest level since September, after a weekly rise of 10.4 percent.
In Asian trading on Monday, Brent slipped about 1.7 percent to $107.98, while WTI eased 0.7 percent to $100.69. By mid afternoon in the Kingdom, Brent was quoted at $108.56, down $1.30 from Friday’s settlement, while WTI stood at $101.33, almost unchanged. Brent’s premium over the US grade stood at about $7.23 a barrel.
The pullback reflected profit taking after a strong rally and expectations that more fuel supplies could reach world markets, according to analysts. Supply risks in the Gulf region continued to support prices, keeping both benchmarks close to their highest levels in months.
The retreat in oil prices also eased some inflation concern in the United States, where consumer and producer price data released last week came in strong, partly because of higher gasoline costs. Markets are now looking ahead to the US Federal Reserve’s policy meeting on October 27 and 28.
Monday’s move followed Friday’s session, when Brent crossed $110 shortly after 2:30 p.m. New York time and WTI closed above $100 a barrel. Even after Monday’s dip, Brent remained about $3 above its close of a week earlier.
