Global Oil Surge: Brent Surpasses $110 Amid Middle East Supply Fears and Shrinking US Reserves

October 22nd 2026
According to data from the American Petroleum Institute, domestic crude stocks dropped by 4.9 million barrels during the week ending October 16.- UK govt approves natural gas project off Scotland
- Saudi crude oil exports hit five-month high in August, data shows
- Oil Ends Flat as Russia Talks Offset Hormuz Risk
- Oil’s New Bottleneck: Freight Hits $40 a Barrel
- Russian Diesel Deal Unlikely to Break Global Supply Squeeze
- U.S. Opens 315,000-Barrel Heating Oil Reserve Exchange
- IEA Ready for More Oil Releases as Diesel Crisis Deepens
- EU Keeps Arctic Drilling Opposition but Drops Legal Ban Push
- U.S. Pushes Refiners for More Diesel as Capacity Tightens


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