{"id":3050,"date":"2026-10-21T12:03:48","date_gmt":"2026-10-21T07:03:48","guid":{"rendered":"https:\/\/ipp-news.com\/?p=3050"},"modified":"2026-10-21T12:03:48","modified_gmt":"2026-10-21T07:03:48","slug":"oil-prices-rise-over-1-as-middle-east-tensions-stoke-supply-fears","status":"publish","type":"post","link":"https:\/\/ipp-news.com\/?p=3050","title":{"rendered":"Oil prices rise over 1% as Middle East tensions stoke supply fears"},"content":{"rendered":"
\n

Oil prices gained over $1 on Wednesday as escalating Middle East tensions fuelled fears of supply disruptions, while falling US crude and product inventories lent support to the market.<\/strong><\/p>\n

Brent crude futures rose $1.59, or 1.5%, to $110.38 per barrel as of 0350 GMT.<\/p>\n

US West \u200bTexas Intermediate (WTI) crude gained $1.36, or 1.4%, to $99.18 per barrel.<\/p>\n

Prices fell in the previous trading session after \u200bIran\u2019s president discussed mediation efforts<\/a> in a meeting with Pakistan\u2019s army chief in Tehran, though \u2060Brent hit a five-month high before easing.<\/p>\n

\u201cOil prices have been having a bit of wild ride in \u200bthe last couple of sessions,\u201d said Suvro Sarkar, head of energy research at DBS.<\/p>\n

\u201cWe believe this is a mix \u200bof profit taking and optimistic hopes of a Qatar- or Pakistan-brokered deal, countered by the realisation that any deal is still very distant and compounded further by inventory data from the American Petroleum Institute (API), which shows drawdowns continuing in the US \u200bfor both crude and products.\u201d<\/p>\n

Iran told Pakistan\u2019s army chief there would be no talks<\/a> with Washington until its \u200bdemands were met, Iranian media outlet Nournews reported on Tuesday, adding that a Qatari delegation<\/a> had arrived in Tehran. There was \u200cno official \u2060confirmation of the reports.<\/p>\n

Maritime security risks are also escalating. Shiptracker Kpler said on Monday that at least 18 vessel attacks were recorded over the past two weeks, while LSEG analysts warned Iran was targeting tankers well beyond the Strait of Hormuz, reaching into the Gulf of Oman and jeopardising Gulf crude loadings and the \u200bship-to-ship transfers supporting regional loadings.<\/p>\n

In the US, two Energy Department officials said on Tuesday they \u2060were working \u200bwith refiners around the world to boost fuel output<\/a> as a diesel \u200bshortage has raised prices.<\/p>\n

According to market sources citing API data, US crude stocks fell by 4.9 million barrels in the week ended October \u200b16.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Oil prices gained over $1 on Wednesday as escalating Middle East tensions fuelled fears of supply disruptions, while falling US crude and product inventories lent support to the market. Brent crude futures rose $1.59, or 1.5%, to $110.38 per barrel as of 0350 GMT. US West \u200bTexas Intermediate (WTI) crude gained $1.36, or 1.4%, to $99.18 per barrel. Prices fell in the previous trading session after \u200bIran\u2019s president discussed mediation efforts in a meeting with Pakistan\u2019s army chief in Tehran, though \u2060Brent hit a five-month high before easing. \u201cOil prices…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-3050","post","type-post","status-publish","format-standard","hentry","category-english"],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/3050","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3050"}],"version-history":[{"count":0,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/3050\/revisions"}],"wp:attachment":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}