Brent Crude Price
In short
Brent crude hit $111.30 on 20 October 2026, according to Legit.ng, though other reports show fluctuations between $104.28 and $111.10 due to conflicting market pressures.
What is happening
Prices are experiencing extreme volatility driven by shipping disruptions in the Strait of Hormuz and increased Russian oil exports following US sanctions waivers. While some reports indicate a drop due to oversupply concerns, others show gains linked to geopolitical tensions and tanker attacks.
When
20 October 2026
Why it matters
Fluctuations in Brent crude directly impact global energy costs and petrol landing prices in various countries. High prices increase household energy bills, while supply shifts affect international shipping routes and refinery choices.
Easy to mix up
Do not confuse Brent crude with WTI (West Texas Intermediate), which is a different benchmark for oil prices based in the United States.