Brent crude rises to $111.23 after sharp swings

Brent crude oil rose 2.21% to $111.23 per barrel in December 2026 contract trading.

According to data from the analytical website OilPrice, the price was recorded at 12:45 a.m. US Central Time on Thursday, Oct. 22, 2026, representing an increase of $2.41 from the benchmark price.

Oil prices have seen significant volatility in recent days and, after repeated ups and downs, have once again returned to the above-$111 range.

Experts say the main reason for the price increase is geopolitical tensions in the Middle East and concerns over the possibility of disruptions to global oil supplies.