LONDON, October 26, 2026: Global crude oil prices declined on Monday, retreating from levels near a six-month high reached last week as markets responded to recent volatility driven by concerns over energy supplies in the Middle East.
According to figures reported by Reuters, US crude oil fell by $1.60 per barrel to $101.67, while Brent crude, the international oil benchmark, dropped by $1.56 to $115.16 per barrel.
The decline followed a strong rally last week, when fears of supply disruptions pushed international oil prices higher.
Concerns intensified after Houthi attacks in Saudi Arabia raised fears of interruptions to energy supplies, contributing to upward pressure on crude prices.
Both US and Brent crude futures ended Friday’s trading session approximately $3 per barrel higher, reflecting continued uncertainty surrounding oil supplies.
Despite Monday’s decline, international oil prices remained elevated following the previous week’s gains.
Brent crude recorded a weekly increase of 6 percent, while US crude gained 2.3 percent during the same period.
The latest decline represents a partial reversal of those gains, although the market continues to face uncertainty over potential supply disruptions.
For oil-importing countries such as Pakistan, changes in international crude prices are particularly important because they influence petroleum import costs and can affect domestic fuel pricing.
However, a decline in global crude prices does not automatically translate into an immediate reduction in petrol or diesel prices in Pakistan, where domestic rates also depend on exchange rates, taxes and government pricing decisions.
The direction of international oil prices in the coming days will remain important for assessing potential changes in energy costs.