Brent Crude Price at $105: Bull and Bear Case After Iran…
By Tobi Opeyemi Amure
AI summary of the source article
Brent crude declined about 1.3 to 1.4 percent to near $105.20 a barrel, ending a three-session rally. The drop followed an unverified claim by Iran's IRGC regarding a tanker strike, alongside easing Russian diesel export limits.
Why it matters
"The market is treating the Hormuz incidents as a rising cost of shipping, not yet as lost barrels, and Russian diesel plus Wednesday’s US CPI print are capping the upside."
Key facts
- Brent crude traded near $105.20 a barrel on 13 October, falling about 1.3 to 1.4 percent.
- Iran's IRGC navy claimed on 12 October that it struck a third supertanker in the Strait of Hormuz, though the vessel was unnamed and unverified.
- Russia partially eased its diesel export limits on 10 October following a US agreement, putting downward pressure on prices.
Source excerpt · FinanceFeeds
Updated 13 October 2026. Brent crude traded near $105.20 a barrel on Tuesday 13 October, down about 1.3 to 1.4 percent and ending a three-session rally (Trading Economics; AP). The fall came hours after Iran’s Revolutionary Guards navy claimed it had hit a third “violating” supertanker in the Strait of Hormuz in two days. The […]