Oil
Oil prices stay above $100 as Middle East tensions persist
International crude benchmarks remain elevated above $100 per barrel as traders monitor security risks affecting shipments from the Middle East.
Key points
- Brent crude traded at $105.91 a barrel following a minor decline, remaining well above pre-conflict levels seen in late February.
- U.S. benchmark crude fell to $91.78 a barrel, according to Transport Topics reporting.
- Market participants continue to monitor disruptions linked to attacks by Iran-backed Houthi militants against Saudi Arabia.
What happened
International crude oil prices remained above $100 per barrel on October 13 as energy markets reacted to ongoing geopolitical tensions in the Middle East. Transport Topics reported that Brent crude fell 0.7% to settle at $105.91 a barrel, while benchmark U.S. crude dropped 2.1% to $91.78 a barrel.
Despite the minor declines, prices remain substantially higher than the roughly $72 per barrel recorded in late February prior to the conflict involving Iran.
Why it matters
Traders and analysts are closely watching developments in the region due to concerns that attacks by Iran-backed Houthi militants against Saudi Arabia could threaten petroleum shipments from the region's largest exporter, according to Bloomberg reporting cited by Transport Topics. Sustained high oil prices continue to influence broader financial markets, corporate earnings, and consumer fuel costs globally.
What comes next
Energy markets remain sensitive to security updates from the Middle East. Financial institutions and investors continue to monitor geopolitical risks alongside broader economic indicators, including inflation and corporate profit reports.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
9.5% of world merchandise exports were fuels in 2025Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
