Brent Slips About 1.6% Toward $108 on Monday After Last Week's 5% Rally

Brent crude fell about 1.6% on Monday 19 October 2026 (27 Mehr 1405) and traded around $108 a barrel, against a previous close near $109.86. Traders took profits after last week's rally of about 5%, which had lifted the price to a five-month high.

The market is caught between geopolitical risk and signs that Persian Gulf oil flows are recovering. Trading Economics cited Houthi attacks targeting the Yanbu export hub and reports of two tankers struck in the Persian Gulf. On the other side, the US Energy Secretary has said regional oil flows had recovered to about 80% of pre-conflict levels. The current Brent level is about 77% above a year earlier, and its all-time high remains $147.50, set in July 2008.