One Turn
Oil stays above $100; diesel tight
Brent crude is about $110. Analysts expect a diesel shortage into 2027. Saudi Aramco is offering extra crude to Europe.
Why it matters
High fuel costs raise prices for transport, food and travel.
Background
The Iran war and Houthi attacks have disrupted Gulf supply.
The story so far
- Iraq's October oil exports near pre-war levels at 3.4m barrels a day
- Brent crude tops $113, highest level since May
- Brent crude briefly passes $117 on fears of renewed Iran strikes
- US says it helped Gulf states ship 1.5 billion barrels through Hormuz
- Oil stays above $100; diesel tight
- Oil swings on Iran news; Brent above $104
- Oil falls for the week on hopes of US-Iran deal
- Iraq says it can export oil through Hormuz
- UAE oil exports back to pre-war levels via Fujairah
Sources
- OilPrice ↗Oct 27, 12:37 PM ET
- OilPrice ↗Oct 27, 3:00 PM ET
- OilPrice ↗Oct 27, 1:40 PM ET
This summary was written automatically from the reporting linked above; follow the sources for the full story. How One Turn works.