Oil Prices Divide as Brent Climbs Above $102 in Tokyo Trading

Oil prices displayed mixed trends during early trading in Tokyo on Monday, October 5, 2026. Brent crude and Murban saw increases, while West Texas Intermediate (WTI) and natural gas prices declined, according to Trading Economics data recorded at 8:37 am Tokyo time. Brent crude was priced at $102.31 per barrel, marking a modest rise of 6 cents or 0.07%.

The contrasting movements highlight ongoing uncertainties surrounding Middle East supply routes. Brent, a key seaborne benchmark, has carried a wider risk premium due to disruptions and security threats around the Strait of Hormuz. These concerns impact the cost and reliability of transporting Gulf crude to Asian buyers. Recent market data indicated a Brent-WTI spread of over $11 per barrel, with analysts pointing to maritime disruptions as a significant factor.

Oil prices have also been supported by tanker shortages, higher insurance costs, and extended voyage times. VLCC freight rates have surged to extraordinary levels, driving up the delivered cost of crude and adding pressure on refiners. These price shifts represent market conditions at the specific time and may differ from later official settlements or real-time quotes.