Business news · Commodities · 23 Oct 2026
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Brent crude rose to about $113.90 a barrel on Friday morning after settling roughly 4% higher on Thursday, and US WTI went above $100. Reports of attacks in Saudi Arabia, of Washington sending a second aircraft carrier to the region, and of possible US strikes on Iran added to supply worries. On MCX, November crude traded near ₹9,522 a barrel.
Crude is the biggest single import cost for Indian refiners and fuel retailers, and pump prices have been held while oil climbed, so a further rise widens the gap state-run marketers absorb. Airlines pay for jet fuel, and paint, tyre and petrochemical makers buy crude-linked inputs. Upstream producers earn more per barrel. ING said its earlier forecast of an $80 average for Brent in the fourth quarter now looks unlikely.
Reported by Free Press Journal ↗ on 23 Oct 2026.
No trading session has closed since this was reported yet — the table appears after the next close.
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