Brent tops $115 as Saudi refinery threat renews supply fears: Oct 30, 2026
Oil prices have swung as traders weigh diplomacy with Iran against risks of wider Gulf escalation and supply disruption. Brent futures touched new highs and later moved above $115 after threats involving Saudi refining renewed supply concerns, while other reports pointed to retreating prices on hopes that diplomacy could ease disruption fears and reduce the war premium. Thin oil stocks and elevated European gas prices are adding to broader stress around energy supply.
Updated
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Headlines (10)
First seen on October 30
Carried over from earlier days
- Brent: Risk premium holds as Iran uncertainty lingers – INGFXStreet
- Brent crude price tops $116 per barrel for 2nd time in Oct.en.mehrnews.com
- European gas hits highest level since 2022, up 4.35%aa.com.tr
- Oil rebounds above $115 as Saudi refinery threat renews supply concernsoilandgas360.com
- WTI snaps two-day losing streak amid fresh Middle East developmentsFXStreet
- Oil's War Premium Could Vanish Fast Once a Hormuz Deal Lands, Analysts WarnBeInCrypto
- The Day After Midterms: Diplomacy Or Another "Epic Fury"?ZeroHedge
- Oil retreats as Iran diplomacy eases fears of further supply disruptionsoilandgas360.com
- 'Thin' Oil Stocks Ratchet Up Market Stress as War Grinds Onenergyintel.com
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Friday, October 30 | ||
| GDP m/m | 0.2% | CAD |
| Employment Cost Index q/q | 0.8% | USD |
| Chicago PMI | 55.8 | USD |
| FOMC Member Daly Speaks | USD | |
| FOMC Member Musalem Speaks | USD | |
| Saturday, October 31 | ||
| Manufacturing PMI | 49.9 | CNY |
| Non-Manufacturing PMI | 50.0 | CNY |
| Sunday, November 1 | ||
| Manufacturing PMI | CNY | |