Oil Extends Three-Session Rally as Supply Risks Persist
Oil futures gain for a third session as traders weigh Middle East conflict risks and question prospects for an energy ceasefire between Russia and Ukraine.
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what happened
Oil futures advanced for a third straight session, Newsmetry API reports, as traders remained concerned about the continuing conflict in the Middle East and doubtful that Russia and Ukraine would reach an energy ceasefire.
Samer Hasn, a senior analyst at XS.com, said the market could continue to fear renewed disruption and lost supplies through either the Strait of Hormuz or the Red Sea while escalation risks remain elevated. He also saw “no reason to be optimistic” after President Trump's announcement that Russia and Ukraine would refrain from attacking each other's energy infrastructure.
Brent settled 1.8% higher at $106.65 a barrel, while WTI rose 2.1% to $93.74 a barrel.
why it matters
Persistent geopolitical risks are supporting oil prices as traders assess the possibility of supply disruptions along key maritime routes. Doubts over the Russia-Ukraine energy ceasefire are also keeping supply concerns in focus.
instruments
sources
- Oil Futures Extend Gains on Persistent Supply Concerns — Market Talk — Newsmetry API, 12 October 2026 at 19:41 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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