Oil prices remained volatile on October 21, 2026, as traders reacted to escalating tensions in the Middle East. Brent crude settled around $109 a barrel before climbing above $110 in post-settlement trading, reflecting concerns over potential disruptions to global supplies due to the ongoing Iran war.
The market's choppy session was driven by conflicting signals regarding Iran talks and the impact of recent attacks in the region. Despite the rising violence, key shipping routes like the Strait of Hormuz continued to operate, helping to stabilize prices.
Analysts noted that the situation remained fluid, with traders weighing the risks of further escalation against the current flow of oil through critical chokepoints. The uncertainty kept prices in a tight range throughout the day.