Gulf mediators and Iran agree to keep talking as US strike threat loomsIsrael votes at record turnout in election too close to callCongo Ebola cases pass 10,000 as neighbours tighten quarantineHouthis claim missile strike on Ras Tanura as Egypt backs RiyadhOleshky truce holds as Nordic leaders speak with PutinDrone strikes kill 21 in Nyala and cut power across Sudan as states warn of famineChurch reports 60 Orthodox Christians killed in two Oromia attacksIndia evacuates eastern coast as very severe Cyclone Arnab nears landfallJordan strikes southern Syria after church attack, Damascus protestsAnthropic's IPO filing shows heavy losses and warns of existential risksRussian strikes damage Kyiv's South Bridge and cut power in seven regionsFlávio Bolsonaro leaves for US as Brazil cancels his passportsOil holds near $115 while gas, fuel costs and inflation stay highChina's AI stocks keep falling despite state supportFrench student groups reject concessions as finance minister rules out new spendingAI stocks rebound as Meta raises equity and Anthropic files for IPOHebron displacement nears 5,000 as officers expect pullout after voteTwo men charged over RAF Fairford incidentStudent List wins Serbian election as Croatia demands acknowledgement of 1990s warsIndonesia and Singapore plan haze task force amid tensionsBrazil's real suffers worst day in over 25 years after Lula comebackIran threatens legal action against Sinokor ships over HormuzUN commission says Israel continued genocide in Gaza after ceasefireGas exporters meet in Moscow as Iranian and Qatari leaders hold talksIndonesian bond yield hits four-year high as MSCI risk and oil weighFrench consumer confidence hits 13-year low amid protestsGulf mediators and Iran agree to keep talking as US strike threat loomsIsrael votes at record turnout in election too close to callCongo Ebola cases pass 10,000 as neighbours tighten quarantineHouthis claim missile strike on Ras Tanura as Egypt backs RiyadhOleshky truce holds as Nordic leaders speak with PutinDrone strikes kill 21 in Nyala and cut power across Sudan as states warn of famineChurch reports 60 Orthodox Christians killed in two Oromia attacksIndia evacuates eastern coast as very severe Cyclone Arnab nears landfallJordan strikes southern Syria after church attack, Damascus protestsAnthropic's IPO filing shows heavy losses and warns of existential risksRussian strikes damage Kyiv's South Bridge and cut power in seven regionsFlávio Bolsonaro leaves for US as Brazil cancels his passportsOil holds near $115 while gas, fuel costs and inflation stay highChina's AI stocks keep falling despite state supportFrench student groups reject concessions as finance minister rules out new spendingAI stocks rebound as Meta raises equity and Anthropic files for IPOHebron displacement nears 5,000 as officers expect pullout after voteTwo men charged over RAF Fairford incidentStudent List wins Serbian election as Croatia demands acknowledgement of 1990s warsIndonesia and Singapore plan haze task force amid tensionsBrazil's real suffers worst day in over 25 years after Lula comebackIran threatens legal action against Sinokor ships over HormuzUN commission says Israel continued genocide in Gaza after ceasefireGas exporters meet in Moscow as Iranian and Qatari leaders hold talksIndonesian bond yield hits four-year high as MSCI risk and oil weighFrench consumer confidence hits 13-year low amid protests
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Symbolic image: Oil holds near $115 while gas, fuel costs and inflation stay highSymbolic image

Oil holds near $115 while gas, fuel costs and inflation stay high

6 sources

Brent eased slightly to about $115 a barrel on Tuesday as Qatari diplomacy gave markets some relief. Gas prices and consumer fuel bills remain elevated.

Brent fell about 0.77% to $114.91 on Tuesday morning, Politika reports, citing the Financial Times on Qatari efforts to ease tensions with Iran; US WTI traded near $100.90. The Wall Street Journal links the dip to traders weighing Iran diplomacy and Saudi attacks, while the US Federal Reserve began a two-day meeting. IEA head Fatih Birol said on Monday, 26 October, in Singapore that markets will not stabilise or recover by 2027 and urged governments to make energy security their top priority.

Gas stays tight

Dutch TTF November futures traded at 95.35 euros per megawatt-hour on Tuesday. The Gas Exporting Countries Forum says spot prices have more than doubled since February as LNG imports to Europe and Asia fell, and Reuters reports that Qatar extended force majeure on LNG cargoes to Italy's Edison until end-December.

Consumers pay $468bn more

A study by the Centre for Research on Energy and Clean Air found that higher fuel prices since the war began cost consumers an extra $468bn, $160bn of it in the US and $54bn in China. The Trump administration says the cost is small next to stopping Iran from getting nuclear weapons.

Clean energy additions slow

IRENA chief Francesco La Camera said on Tuesday that the world will add less clean capacity in 2026 for the first time in five years, blaming grids that cannot carry the output.

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