Brent Crude Oil Price: $113 as Futures Reopen With OPEC+…
By Tobi Opeyemi Amure
AI summary of the source article
Brent crude's January contract settled at $113.43 a barrel and WTI reached $104.12. Seven core OPEC+ members agreed in principle to maintain December production targets, while markets monitor security developments in the Strait of Hormuz.
Why it matters
OPEC+ must complete a review of member production capacity in the fourth quarter "before it sets the 2027 baselines that will decide future quotas and how the remaining cuts are unwound."
Key facts
- Brent January crude settled at $113.43 a barrel, while WTI settled at $104.12.
- Seven core OPEC+ members agreed in principle to hold December output targets unchanged.
- UKMTO reported a vessel was hit by an unidentified projectile roughly 40 nautical miles south of Lavan Island.
Source excerpt · FinanceFeeds
Updated 1 November 2026. Brent's January contract, the front month, last settled at $113.43 a barrel on Friday 30 October, up $2.63; WTI settled at $104.12 (Reuters via CNBC). Seven core OPEC+ members meet online today, and three sources told Reuters on Saturday that the group has agreed in principle to keep December output targets steady . No official statement had been published when this page w…