Oil prices split as Brent tops $102, Murban hits $110 per barrel on Oct. 5, 2026

Oil prices displayed contrasting trends in early Tokyo trading on Monday, October 5, 2026. Brent crude and Murban crude showed an upward trend, while West Texas Intermediate (WTI) and natural gas prices fell. Brent crude was reported at $102.31 per barrel, marking a 0.07% increase or 6 cents. Murban crude climbed to $110.80 per barrel, a 1.30% rise or $1.42.

In contrast, WTI crude slipped by 0.37%, reaching $90.77 per barrel, and natural gas declined by 0.79%, settling at $3.011 per mmBtu. The fluctuating prices underscore the ongoing uncertainty surrounding Middle East supply routes. Brent, a seaborne benchmark, carries a significant risk premium due to disruptions and security threats around the Strait of Hormuz, raising concerns about the cost and reliability of transporting Gulf crude to Asian markets.

The Brent-WTI spread has widened to over $11 per barrel, attributed partly to greater exposure of internationally traded crude to maritime disruptions. Oil prices have also benefited from tanker shortages, higher insurance costs, and longer voyages. VLCC freight rates have surged to unprecedented levels, increasing the delivered cost of crude and placing pressure on refiners.

These price figures represent market conditions at the time of reporting and may differ from later official settlements or real-time quotes.