Brent Holds Near $110 as Saudi and Hormuz Risks Persist

October 18, 2026

News summary: Reuters reported Brent at $109.55/bbl while WTI contracts diverged, as attacks on Saudi infrastructure and a tanker explosion near Hormuz kept supply risk elevated.

Market context: Diverging contracts and volatile physical flows reinforced the need to specify benchmark month, timestamp, route and freight in offers.