Markets
Oct 28, 2026 7 min read
WTI Crude at $100 and the Strait of Hormuz: Record Tanker Attacks, the $14 Brent–WTI Spread and the Forex Read
WTI crude settled at $99.90 on 27 October 2026 after trading above $101 in Asia, with Brent at $113.88, as attacks on shipping in the Strait of Hormuz reached the highest monthly count on record: 28 vessels in October, seven oil tankers on 22 October alone. Gulf crude exports have fallen for four straight weeks and transits are near 60% of normal. This guide explains why the $100 line matters, why Brent trades $14 over WTI when the normal gap is $3–5, what the strait carries and what bypasses it, and which currencies move with each barrel.
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