WTI settles at $103.27 after a sharp Friday rise

United States crude finished the week firmly above the $100 mark, with West Texas Intermediate settling at $103.27 a barrel on Friday, 24 October 2026, according to the South Shore Press report dated that day. That was a rise of $3.80, or 3.8 percent, on the session. A day earlier, WTI had closed at $99.47, so the move back above three figures was both swift and decisive for traders watching the American benchmark.

The weekly picture was more modest than the single-day jump suggested. WTI ended the week up about 2 percent, its third straight weekly advance, even as the global Brent benchmark recorded a larger gain of about 6 percent over the same period. The gap between the two benchmarks therefore widened, a pattern often seen when regional supply concerns affect international pricing more directly than US domestic supply.

Why traders are watching Gulf supply

Market reports linked the latest gains to attacks by Iran-backed Houthi militants on targets across Saudi Arabia, including energy sites and airports, and to wider tension with Iran. The United States State Department this week ordered non-essential personnel to leave Saudi Arabia, a step that underlined how seriously officials viewed the security situation. Traders also noted competing claims around shipping in the Strait of Hormuz, the narrow waterway through which much Gulf oil travels.

For households and businesses, the immediate question is whether higher crude costs feed through to fuel, transport and heating bills in the weeks ahead. That transmission is rarely instant, and it depends on refining margins, exchange rates and local taxes as well as crude itself. For now, the market signal is clear: supply risk, rather than demand weakness, is driving the US benchmark. This article is market news, not investment advice.