$116.72 a barrel: that is where Brent crude settled on Friday, 23 October 2026, after a one-day jump of 3.1% that gave the global benchmark its highest close since 29 April. During the session it briefly traded above $117 before giving back a little of the gain, leaving it $3.55 a barrel above Thursday's settlement.
US West Texas Intermediate climbed even faster on the day, rising 3.8% to settle at $103.27 and staying above the $100 line. Over the week, Brent added about 6.2%, its third weekly gain in a row, while WTI finished roughly 2% higher.
Traders tied the rally to supply worries in the region. Markets now turn to the US Federal Reserve, whose interest rate decision is due on Wednesday, 28 October.
