Brent crude rises 3% to $112 a barrel, a five-month high

Brent crude, the global oil benchmark, rose 3% to $112 a barrel on Thursday, October 22, 2026, a five-month high, per The Guardian. It settled at $100.20 on October 7, per Reuters. Higher crude typically feeds pump prices and inflation expectations, but oil has swung sharply during October, so one high does not establish a trend.