17-Oct-2026 09:11:51
Crude Oil Tops $110/Barrel as Middle East Tensions Escalate; US Waives Russia Sanctions to Ease Supply Concerns
Brent crude surged 3.7% to $109.86 per barrel on Friday, while US WTI settled at $101.41, as escalating Middle East tensions and attacks on energy infrastructure heightened supply concerns. However, US President Donald Trump has waived key sanctions and tariffs targeting major buyers of Russian oil, including India and China, potentially allowing Russian supplies to flow more freely. The move could ease prices, although disruptions around the Strait of Hormuz remain a major upside risk.