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Crude oil hits 5-month high amid Middle East tensions, then dips as market weighs conflict and shipping risks.

Market News
20 Oct 2026
New York Post
View Source
Bearish
Crude oil hits 5-month high amid Middle East tensions, then dips as market weighs conflict and shipping risks.

Crude oil prices surged to a five-month high Tuesday morning, with Brent crude topping $111 per barrel and West Texas Intermediate surpassing $100, driven by ongoing Middle East conflicts and attacks in the Strait of Hormuz. However, prices later fell slightly as traders balanced hopes for diplomacy against continued regional instability and rising insurance and freight costs. Meanwhile, US moves to allow sanctioned tankers to operate aim to ease shipping bottlenecks. Investors also watch the Russia-Ukraine war's impact on oil markets, with recent Ukrainian strikes and US plans to ease Russian oil sanctions adding uncertainty.

Oil prices and Middle East tensions provide context for energy markets. For readers following energy stocks, here is Pluang's market snapshot as of Oct 20, 2026 22:51 WIB: Of 79 priced Energy-sector US stocks tradable on Pluang, 28 rose and 51 fell today. Notable movers include KOS at USD 2.71 with a -3.05% change, UGP at USD 7.97 with a +2.57% change, and UUUU at USD 8.37 with a +2.57% change.

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