Energy · Lake Charles, Louisiana · United States of America · October 24, 2026

Brent crude climbs to $111.70 as US taps oil reserve

Reported by 2 outlets · first reported Oct 23, 4:27 PM ET

Brent crude rose 2.8% to $111.70 a barrel, up 9.5% over the past month. The US Energy Department approved an emergency loan of up to 400,000 barrels from its strategic reserve to a Louisiana refinery. The reserve is already at its lowest level since 1982.

Why it matters

Higher crude prices feed into fuel, flight and shipping costs for households and businesses worldwide.

Background

Oil has risen on fears of renewed US strikes on Iran and attacks on Gulf shipping and Saudi oil sites. The US strategic reserve is an emergency stockpile used to ease supply shocks.

The story so far

1. Oct 17US offers 17 million more barrels from its emergency reserve
2. Oct 24Brent crude climbs to $111.70 as US taps oil reserve

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Sources

• OilPrice ↗Oct 23, 6:30 PM ET
• UPI ↗Oct 23, 4:27 PM ET

This summary was written automatically from the reporting linked above; follow the sources for the full story. How One Turn works.

See it on the globe →All of Oct 24's stories