Oil jumps to a five-month high

Brent, the world's main oil price, rose 3% to $112 a barrel on Thursday, October 22, 2026, a five-month high, per The Guardian. Reuters says it closed at $100.20 on October 7. Higher oil often means dearer petrol and faster inflation, the general rise in prices. Oil has swung sharply this month, so one high does not prove a trend.