Brent Retreats on Hopes of Russian Diesel Supply, While Riyadh Airport Attacks Limit the Slide

Brent crude fell to 103.31 dollars a barrel on Monday, 20 Mehr 1405 (12 October 2026), down 1.35 percent from the previous day's 104.72 dollars, ending a two-session rally. Trading Economics reported that expectations of Russian diesel supply easing the global fuel shortage weighed on prices.

On Friday, 17 Mehr (9 October), Donald Trump said his administration had reached an agreement for Russia to supply hundreds of thousands of tonnes of diesel, a partial easing of Moscow's export ban. He also claimed Russia and Ukraine had agreed to an "energy ceasefire"; Moscow and Kyiv have not described its details and enforcement the same way.

On the other side, a renewed strike on Riyadh airport on Sunday, 19 Mehr (11 October), a day after an attack that killed 12 and wounded more than 300, has kept supply risk alive. According to the same source, Brent is down 2.25 percent over the past month but still 63.15 percent above a year ago. Trading Economics prices are based on contracts for difference and are not an official benchmark rate. High oil matters for Iran through export revenue and through the gold and currency markets.