October 30, 2026, morning, around 07:00 Moscow time Brent $115.74 +0.75% WTI $102.72 +0.71% Oil prices are rising again after yesterday's decline. Brent may end October up almost 14%, WTI could rise 15%. The market continues to assess threats to supplies from the Persian Gulf.
What happened in the last hours:
1. The Houthis are expanding their attacks on Saudi oil facilities. Attacks were announced on the Ras Tanura and Rabigh refineries, as well as the Saudi Aramco facility in Abqaiq. The Saudi side reported intercepting the missile. The extent of the damage requires confirmation. 2. In the Strait of Hormuz - new reports of damage to tankers. The Iranian Revolutionary Guards said that three tankers hit a sea mine and caught fire. There is no independent confirmation of the circumstances yet. This increases the risks for shipping and transportation insurance, AP reports. 3. The United States is trying to renew negotiations with Iran. Vice President J. Dee Vance sent a message to Tehran. Qatari mediators presented a draft agreement, but the Iranian side considered the proposed terms unacceptable. Diplomacy is holding back the rise in prices, but there are no signs of a breakthrough, Reuters reports. 4. ExxonMobil and Chevron have canceled executive trips to the UAE. The reason is security concerns against a background of regional escalation. We are talking about attending a major oil and gas event next week. 5. The Russian rendering is restored. According to J. According to Morgan, during the last week the load in the Russian refineries increased by 350 thousand barrels per day, to 4 million barrels per day. This supports expectations for an increase in diesel supply, although the sustainability of the recovery remains in question, writes Business Recorder. What now determines the market as a whole:
Reuters notes that Brent remains about $10 above the September average. Until the mid-term elections in the United States on November 3, market participants do not expect clarity about the continuation of Washington's actions against Iran.