Brent crude climbs 3% to $112, 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. Reuters reports it closed at $100.20 on October 7. Higher crude typically feeds pump prices and inflation expectations. But oil has swung sharply this month, so one high does not establish a trend.