- WTI settled at $101.41 per barrel, up 3.5% on the day and more than 10% this week. Brent rose 3.8% to $109.93.
- At least nine commercial ships have come under attack near Hormuz since Sunday. U.S. Central Command said Iran sank the container ship GFS Pride on Wednesday.
- Crude exports through Hormuz were 9.4 million barrels per day for the week ended Wednesday, about 70% of the pre-war average, according to Kpler.
- Houthi missile and drone attacks on Saudi Arabia this week included a strike on a Saudi Aramco administrative building in Dhahran on Tuesday.
- The Russia-Ukraine energy ceasefire has unraveled, and Kyiv says it will resume strikes on Russian refineries.
- U.S. diesel averaged $6.33 per gallon on Friday, up more than 70% from a year earlier, according to AAA.
- EIA data showed a commercial crude inventory draw of more than 8 million barrels for the week ended Oct. 9, driven by Gulf Coast shut-ins from Hurricane Isaias.
Quotes
“At least nine tankers and cargo ships have come under attack near Hormuz since Sunday as Iran tries to choke off oil exports through the strait.”
“The fuel cost $6.33 per gallon in the U.S. on average Friday, a more than 70% increase compared to the same period last year, according to AAA data.”