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WTI settled at $104.12 and Brent's expiring December contract at $117.64 on Friday, both at their highest settlements since late April. US oil rigs rose by two to 462 in the Baker Hughes count, while the total rig count held at 603.
The modest rig increase suggests shale output is responding only slowly to a 15% October rally. Price gains are being driven mainly by Iran escalation risk rather than a fast supply response.
oilauthority.comOct 31, 2026After 131 past bullish report events, Crude Oil (WTI) moved a median +1.2% over 5 sessions (60% higher; middle half -1.3% to +3.4%), and +2.9% over 20.
After 116 past bullish report events, Crude Oil (Brent) moved a median +1.3% over 5 sessions (66% higher; middle half -1.0% to +3.1%), and +2.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
