Global crude oil prices surged over 3% to reach $116.72 per barrel, the highest level since late April, amid ongoing conflicts in the Middle East, while global stock markets showed volatile movements.
On 23 Oct 2026 GMT+7, global crude oil prices climbed to the highest level since late April. Brent crude for December delivery, the global benchmark, rose over 3% to $116.72 per barrel, while U.S. West Texas Intermediate crude increased 3.8% to $103.27 per barrel amid continuing Middle East conflicts and concerns over potentially higher energy demand during the Northern Hemisphere winter.
In the U.S. stock market, major indices traded mostly lower throughout the session, with the Dow Jones closing down 1.2% and the Nasdaq down 0.2%, reflecting investors' shift away from risk assets ahead of the weekend.
Meanwhile, most European stock markets declined following disappointing earnings from Kering, the parent company of Gucci, and Sweden’s Volvo Cars. Asian stock markets closed mixed, with some technology stocks recovering after heavy losses earlier in the week.
Danny Hewson, Chief Financial Analyst at AJ Bell, said global markets are facing concerns over rising oil prices and the sustainability of investment spending on artificial intelligence, with tensions in Ukraine adding further pressure on oil and natural gas prices.
Source: AFP