Oil surged during October 12–17 as diesel supplies remained under pressure
🛢️ Brent ended the week at USD 109.86 a barrel, up 4.9%, after touching USD 110 for the first time since May. WTI gained 10.4% to USD 101.41, supported by supply risks and declining US inventories.
🌍 Tensions around the Strait of Hormuz and threats to Saudi energy infrastructure continued to lift the geopolitical risk premium. Attacks on Russian refineries also raised concerns about fuel availability, particularly diesel.
🏭 Diesel remained a key bottleneck beyond crude oil. According to the IEA, global gasoil exports averaged roughly 10% below year-earlier levels during the first nine months of 2026, as disruptions to Middle Eastern and Russian supplies put pressure on inventories.
🏦 The IEA agreed to accelerate the release of remaining stocks under its earlier commitment, including more than 20 million barrels of diesel. Additional supplies are expected to ease pressure, although their impact depends on delivery speed and the restoration of shipping flows.
📉 US commercial crude inventories fell by 8.6 million barrels in the week ended October 9. However, hurricane-related production disruptions contributed to the draw, limiting its value as evidence of stronger demand.
🔎 Next week’s focus will be on shipping through Hormuz, reserve deliveries and diesel availability. The rally highlights the market’s sensitivity to supply disruptions, while the effectiveness of additional supplies will take time to assess.
#EnergyMarkets $BNB
🛢️ Brent ended the week at USD 109.86 a barrel, up 4.9%, after touching USD 110 for the first time since May. WTI gained 10.4% to USD 101.41, supported by supply risks and declining US inventories.
🌍 Tensions around the Strait of Hormuz and threats to Saudi energy infrastructure continued to lift the geopolitical risk premium. Attacks on Russian refineries also raised concerns about fuel availability, particularly diesel.
🏭 Diesel remained a key bottleneck beyond crude oil. According to the IEA, global gasoil exports averaged roughly 10% below year-earlier levels during the first nine months of 2026, as disruptions to Middle Eastern and Russian supplies put pressure on inventories.
🏦 The IEA agreed to accelerate the release of remaining stocks under its earlier commitment, including more than 20 million barrels of diesel. Additional supplies are expected to ease pressure, although their impact depends on delivery speed and the restoration of shipping flows.
📉 US commercial crude inventories fell by 8.6 million barrels in the week ended October 9. However, hurricane-related production disruptions contributed to the draw, limiting its value as evidence of stronger demand.
🔎 Next week’s focus will be on shipping through Hormuz, reserve deliveries and diesel availability. The rally highlights the market’s sensitivity to supply disruptions, while the effectiveness of additional supplies will take time to assess.
#EnergyMarkets $BNB