Brent Holds Near $109.8 as US Says Persian Gulf Oil Shipments Are Back to About 80% of Pre-War Levels

Brent crude rose 0.22% from the previous day to $109.79 a barrel on Tuesday, October 20, 2026, according to a data provider. That is 9.42% above a month earlier and 79.05% above a year earlier; the figures track a contract for difference (CFD) and are not an official benchmark price. US Energy Secretary Chris Wright has said Persian Gulf oil shipments have recovered to about 80% of pre-war levels, though refined-product deliveries remain limited. The US administration is also authorizing the sale of sanctioned tankers so they can carry crude legally; the so-called dark fleet is estimated at around 1,600 vessels. Fighting continues in West Asia and Eastern Europe, and the same provider points to multiple attacks on commercial ships and exchanges of strikes between Saudi Arabia and the Houthis. The oil market reaches Iran through two channels: export revenue and world product prices.