RSS feed source: US Energy Information Administration
In-brief analysis
October 5, 2026
Data source: Bloomberg L.P.
Note: 3Q26=third quarter of 2026
Petroleum markets in the third quarter of 2026 (3Q26) were characterized by increasing prices for crude oil and petroleum products amid persistent conflict in the Middle East.
Crude oil prices
Crude oil prices steadily climbed in 3Q26 as markets adjusted to renewed military strikes in the Middle East. The front-month futures price of a barrel of Brent crude oil began the quarter at $72 per barrel (b) on July 1, the lowest since February 26, two days before the start of the war. The low prices at the start of the quarter reflected increased flows through the Strait of Hormuz in June following the June 17 Memorandum of Understanding (MOU).
Following the resumption of military strikes on July 7, crude
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