Brent Ends Friday Near $110, Up More Than 5% on the Week

Brent crude rose about 3.6% on Friday, 16 October 2026, to $109.69 a barrel from $105.92 the day before, according to Trading Economics. Mehr News, citing OilPrice data, reported the December Brent contract up $3.94 (3.72%) at $109.86, with West Texas Intermediate up 3.51% at $101.41. Brent had mostly traded between $103 and $107 in the preceding days.

Trading Economics puts Brent more than 5% higher on the week and about 79% above a year earlier. It says attacks on tankers in the Strait of Hormuz have cut flows: daily transit averaged 11.62 million barrels in the week to 13 October against a baseline of 17.15 million. It also cites Ukrainian drone strikes on Russian refineries constraining fuel supply and a drop of 8.56 million barrels in US crude inventories in the week to 9 October. For Iran, higher crude matters through export revenue and the regional energy market.