Brent briefly reached US$110 a barrel on October 16 before closing at US$109.80, up 3.7 per cent. VnExpress's October 17 report described the intraday level as the highest since May amid Middle East supply concerns.
WTI finished 3.5 per cent higher at US$101. Over the week, WTI gained more than ten per cent and Brent nearly five per cent. These figures describe the completed session rather than a live quotation.
Shipping and infrastructure risks
The report cites Saudi military comments about intercepted missiles over the Red Sea, including one directed towards the Yanbu oil-export port. Attacks in the region increased attention to energy infrastructure security.
It also cites the International Maritime Organization on attacks involving vessels near the Strait of Hormuz. Oil movements through that route had declined after recovering during September.
Kpler data quoted by the source put flows at 9.4 million barrels daily in the week ending October 14, around seventy per cent of the pre-conflict average.
US inventories and other pressures
US commercial crude inventories fell by more than eight million barrels in the week ending October 9. The report attributes the production disruption along the Gulf of Mexico to Hurricane Isaias, citing the EIA.
It also describes continuing risks around Russian and Ukrainian energy infrastructure. Those developments formed the background to the reported market move.
Brent's closing price remained below its intraday high. The session's gains do not establish a guaranteed direction or price for subsequent trading.