Why it matters
- Brent crude futures settled at $105.69 a barrel on Tuesday, Oct. 13, down 96 cents, or 0.9%, from Monday, Reuters reported. U.S. West Texas Intermediate rose 40 cents, or 0.4%, to settle at $94.14.
- Hopes that a U.S.-Russia diesel deal could free up more Russian supply weighed on Brent, while attacks in Saudi Arabia and Yemen kept the risk of supply disruptions in play, according to Reuters.
- WTI's settle was its highest close since Sept. 24, and Brent's Monday settle of $106.65 had been its highest since Sept. 15, Reuters said.
Brent crude futures settled at $105.69 a barrel on Tuesday, Oct. 13, down 96 cents, or 0.9%, from Monday, Reuters reported. U.S. West Texas Intermediate (WTI) crude futures rose 40 cents, or 0.4%, to settle at $94.14, as traders weighed a U.S.-Russia diesel deal against fresh attacks in Saudi Arabia and Yemen.
The two benchmarks moved in opposite directions for most of the session. At 12:59 p.m. EDT, Brent was down 59 cents at $106.06 and WTI was up 73 cents at $94.47, according to an earlier Reuters report.
Oil prices today: Brent and WTI settlements
| Benchmark | Tue., Oct. 13 settle | Mon., Oct. 12 settle | Change |
|---|---|---|---|
| Brent crude | $105.69 | $106.65 | -96 cents (-0.9%) |
| WTI crude | $94.14 | $93.74 | +40 cents (+0.4%) |
Source: Reuters. Monday's levels are derived from Reuters' reported Tuesday changes and match Yahoo Finance daily data.
WTI's settle was its highest close since Sept. 24, Reuters said. Brent's Monday settle had been its highest since Sept. 15.
Why did Brent fall today?
Brent eased on hopes that a U.S.-Russia deal to export Russian diesel could free up more Russian supply, Reuters reported. The Kremlin said on Tuesday that it did not see a direct link between the diesel deal and Moscow's stance on Ukraine peace talks, according to Reuters. The deal follows the U.S. Treasury's Oct. 9 license for Russian diesel trades; see Trump's Russia-Ukraine energy ceasefire and the diesel waiver.
What is supporting oil prices?
Attacks in the Middle East. Yemen's Houthis said Saudi Arabia was attacking Sanaa after a Saudi-led coalition warned civilians to stay away from an oil depot on the city's outskirts, Reuters reported. Houthis struck Riyadh's international airport over the weekend, and tanker attacks were reported near the Strait of Hormuz, the news agency said.
President Donald Trump on Tuesday accused the Houthis of deliberately trying to drive up oil prices ahead of the U.S. midterm elections, according to Reuters.
Longer-dated prices also stayed high. WTI futures for calendar 2027 hit a record $84 a barrel, a 12th straight day of record highs, and Brent's calendar 2027 strip hit a record $90 on Monday, Reuters reported.
What did OPEC say?
OPEC+ production rose sharply in September, driven by an increase from Saudi Arabia, Reuters reported. OPEC lowered its forecast for 2026 oil demand growth for a sixth straight month and raised its forecast for next year, citing the need to rebuild inventories depleted by the Iran war, according to Reuters.
U.S. Gulf of Mexico output has been recovering after Hurricane Isaias; see Gulf oil shut-ins ease after Isaias landfall.
Follow more energy market news on oil, gas and power prices.
Sources
- Reuters via Central Oregon Daily News, Oil prices settle mixed, focus on US-Russia diesel deal, Saudi Yemen attacks (Oct. 13, 2026)
- Reuters via Euronext, Oil prices ease as US-Russia diesel deal hopes offset Middle East attacks (Oct. 13, 2026)
- Yahoo Finance, daily chart data for Brent crude futures (BZ=F) and WTI crude futures (CL=F)
