{
  "id": 12517992,
  "title": "Oil prices rebound towards US$90 as Middle East risks outweigh supply recovery",
  "url": "https://urgent.news/2026/10/07/oil-prices-rebound-towards-us-90-as-middle-east-risks-outweigh-supply",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-07T01:22:00.000Z",
  "source": {
    "name": "The Vibes",
    "slug": "the-vibes",
    "url": "https://www.thevibes.com/articles/business/128068/oil-prices-rebound-towards-us90-as-middle-east-risks-outweigh-supply-recovery"
  },
  "original_language": "en",
  "account": "Crude oil prices returned to around US$90 a barrel on Wednesday, with the threat of conflict in the Middle East overshadowing signs of increasing regional supply, while a weaker US dollar helped to support commodity prices. Brent crude climbed to nearly US$101 per barrel, building on gains from the previous day, following heightened tensions in the Strait of Hormuz. Nine incidents have been reported by the UK Maritime Trade Operations in the strait this month alone, and a Saudi-led coalition stated it had destroyed a ballistic missile launched by Yemen's Houthi forces towards Saudi Arabia. Despite the current turmoil, oil prices were still slightly lower for the week as Gulf crude flows showed early signs of recovery. Tankers have continued to traverse the Strait of Hormuz, and Saudi Arabia's East-West oil pipeline has resumed pumping at a rate of 5.8 million barrels per day. In the United States, data showed a decrease in crude inventories by 2.1 million barrels last week, with final inventory figures expected later on Wednesday. The US dollar weakened by 0.28% to 101.885 on Tuesday, falling 2.73% over the past four weeks, though it was still 3.35% higher than a year ago. The weaker dollar was partly due to easing concerns over rising energy prices and the possibility of additional interest rate hikes. Amid the volatile crude prices, Malaysia faces significant external risks, particularly related to fuel costs, inflation, trade flows, and the ringgit, despite the positive impact of recovering oil exports in the region.",
  "summary": "CRUDE oil prices rebounded towards US$90 a barrel on Wednesday as renewed risks to energy flows through the Middle East outweighed signs that regional supply was recovering, while a softer US dollar provided some support to commodities. Brent crude c...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 5,
    "also_reported_by": [
      {
        "outlet": "Winnipeg Free Press",
        "title": "Pakistan provides fuel aid to over 9 million low-income people as Middle East war drives up prices",
        "url": "https://urgent.news/2026/10/06/pakistan-provides-fuel-aid-to-over-9-million-low-income-people-as",
        "published": "2026-10-06T19:26:04.000Z"
      },
      {
        "outlet": "Ajel English",
        "title": "Oil prices steady as Middle East exports offset supply risks",
        "url": "https://urgent.news/2026/10/06/oil-prices-steady-as-middle-east-exports-offset-supply-risks",
        "published": "2026-10-06T19:36:26.000Z"
      },
      {
        "outlet": "Seeking Alpha News",
        "title": "Middle East oil flows reach 80% of pre-war levels, Shell CEO Sawan says",
        "url": "https://urgent.news/2026/10/07/middle-east-oil-flows-reach-80-of-pre-war-levels-shell-ceo-sawan-says",
        "published": "2026-10-07T00:55:19.000Z"
      },
      {
        "outlet": "The National UAE",
        "title": "The Middle East needs a different answer to the failures exposed by October 7",
        "url": "https://urgent.news/2026/10/07/the-middle-east-needs-a-different-answer-to-the-failures-exposed-by",
        "published": "2026-10-07T03:00:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}