Oil prices on rise again, with Brent at 116 dollars

Crude oil prices were set for another weekly gain today, also extending their monthly rise to four months in a row amid continued fears of escalation in the Middle East and Houthi attacks on Saudi infrastructure.

Brent oil futures with delivery in December 2026 moved up above $116 per barrel on the London-based ICE, according to market data.

Brent crude futures increased by $1.55 to $116.40 per barrel, WTI futures with delivery in this November rose by $1.39 to $103.40 per barrel on the New York Mercantile Exchange (NYMEX).

Brent crude has booked gains of 11% this month alone, with WTI adding even more, at 14%. Since the end of June, Brent has gained over $40 per barrel, and WTI has gone up by some $34 per barrel.