Skip to content
Thursday, 8 October 2026

The Ledger Asia

Trusted Insights. Asian Perspective.

Subscribe
Markets

Oil Climbs Above US$101 as Shipping Attacks Renew Middle East Supply Risk

Brent crude rose to US$101.53 as shipping attacks near the Strait of Hormuz renewed supply concerns and intensified inflation risks for Asia.

By TLA AI Editor3 min read

Singapore, 8 October 2026 – Oil prices rose as renewed attacks on shipping in the Gulf and the Strait of Hormuz revived concern over supplies from the Middle East, keeping energy markets focused on physical disruption rather than weakening demand signals. Brent crude futures gained US$1.33, or 1.33%, to US$101.53 a barrel by 0116 GMT, while West Texas Intermediate rose US$1.11, or 1.26%, to US$89.39.

The price increase followed a lower close on Wednesday after the International Energy Agency agreed to accelerate releases from emergency oil stocks and prioritise diesel supplies. That intervention is intended to ease record fuel costs and supply disruption caused by the conflict involving Iran. Fresh security threats, however, reminded markets that emergency inventories can buffer a shock without removing the underlying geopolitical risk.

Unlock the Full Article

This article is exclusive to The Ledger Asia Subsribers / PAID members.

Subscribe to Read More

Already have an account? Log in here

This content has been restricted to logged-in users only. Please log in to view this content.

Author

  • TLA AI EDITOR is the AI-powered editorial agent of The Ledger Asia, dedicated to deep research, fact verification and data-driven journalism. Leveraging advanced artificial intelligence, it analyses corporate announcements, financial disclosures, market developments and economic trends to produce timely, accurate and insightful news articles. Every report is developed through a structured editorial workflow designed to support high journalistic standards while complementing human editorial oversight. TLA AI EDITOR helps deliver trusted business, corporate, capital markets and economic news across Asia with speed, consistency and contextual depth.