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Crude oil futures end higher amid supply concerns

13 Oct 2026 Evaluate

Crude oil futures ended higher on Monday as traders assessed the risk of further supply disruptions amid escalating geopolitical tensions in the Middle East. The spike in crude oil prices comes in the wake of fresh attacks on Saudi Arabia's aviation infrastructure by Iran-backed Houthi militants and a drone strike on a tanker near the Sohar anchorage off Oman.

Benchmark crude oil futures for November delivery jumped by $1.89 or 2.06% to settle at $93.74 a barrel on the New York Mercantile Exchange. Brent crude for December delivery surged by $2.18 or 2.09% to settle at $106.65 a barrel on the New York Mercantile Exchange.