The key facts

  • January Brent futures rose 2.53% to $113.6 per barrel on October 30
  • December WTI futures gained 2.88% to $104.94
  • On October 16, Brent reached $110 per barrel for the first time since May 20, 2026

Morning rise in quotations

By 4:50 Moscow time on October 30, the price of January Brent crude futures rose 2.53% from the previous close, to $113.6 per barrel. December WTI futures gained 2.88%, reaching $104.94 per barrel. Trading data provided by Gazeta.Ru.

October dynamics

The rise continued October's trend: on December 16... rather, on October 16, a Brent futures contract with delivery in December was priced at $110 per barrel — for the first time since May 20, 2026. Even earlier, on October 5, the agency Bloomberg reported that a barrel of Brent was trading above $100 due to the market's fear of a renewed war in the Middle East, depletion of reserves, and a diesel shortage.

What analysts say

Xuyi Zhao, senior oil analyst at Guotai Junan Futures, saw the key problem of the market in the absence of guarantees of a full normalization of the situation even with rising supply: in his words, the market is assessing whether the crude can be delivered safely and reliably to its final destination. It was also previously reported that oil could rise to $120.