Brent $115, WTI $101.
Trump enters the final week before the US midterm elections on November 3. Oil prices are rising, gasoline and diesel are hurting American consumers, and the president must simultaneously demonstrate strength and prevent the war from completely destroying his electoral chances. On Friday, Brent rose above 117 dollars per barrel. On Monday, October 26, the quotes retreated to around $115, but there is no cause for complacency. Trump is again choosing between the Iran deal and "ending it," leaving open the possibility of new large-scale attacks. At the same time, the end of the war does not guarantee a quick return of cheap energy: the head of the IEA, Petah Birol, has already warned that in 2027 the market may not return to its pre-war state. Saudi Arabia, meanwhile, is looking for ways to make the flow of oil more sustainable. From 2027, Saudi Aramco plans to store oil in underground storage facilities in Singapore with a capacity of about 9 million barrels. It's not just warehouse logistics: the kingdom is trying to bring stocks closer to buyers in Asia and reduce dependence on disruptions in familiar routes. The kingdom already stores raw materials in South Korea, Japan and India. But while some are building a reserve system, others are expanding the geography of war. The Houthis have announced attacks on the East-West oil pipeline, oil pumping stations and the airport in Riyadh. October 27: The Saudi coalition reported the interception of three ballistic missiles and four drones aimed at the eastern and southern regions of the kingdom. The blows may be stronger. But epic rage can still happen. Russia got a reprieve: after the previous wave of attacks on refineries, new confirmed attacks on a similar scale have not been seen in recent days. But the break does not mean that the risks to processing and exporting have disappeared. In the first half of October, diesel production dropped to about 160,000 tons per day compared to 175,000 tons in September.