Brent crude oil futures traded above $110 a barrel on Wednesday morning as markets assessed supply disruptions amid continued tensions in West Asia. | Photo Credit: narvo vexar

Brent crude oil futures traded above $110 a barrel on Wednesday morning as markets assessed supply disruptions amid continued tensions in West Asia.

At 10.03 am on Wednesday, December Brent oil futures were at $110.31, up by 1.40 per cent, and December crude oil futures on WTI (West Texas Intermediate) were at $99.08, up by 1.29 per cent. November crude oil futures were trading at ₹9,422 on Multi Commodity Exchange (MCX) during the initial hour of trading on Wednesday against the previous close of ₹9,311, up by 1.19 per cent, and December futures were trading at ₹9,249 against the previous close of ₹9148, up by 1.10 per cent.

A Reuters report, which cited Iranian media, said that a super-tanker caught fire after striking a sea mine south of the Strait of Hormuz while ‘violating’ Iranian regulations. There were at least 18 vessel attacks reported over two weeks, it said.

Attacks on Saudi sites have continued with the Houthis claiming responsibility for these attacks. These sites included a Saudi Aramco dacility in Yanbu, the Shaybah oilfield and Riyadh and Abha airports in Saudi Arabia.

Meanwhile, industry data showed a decline in crude oil inventories in the US for the week ending October 16. According to the industry body American Petroleum Institute (API), crude oil inventories declined 4.93 million barrels for the week ending October 16. Official data on US crude oil inventories is expected to be released later on Wednesday. This data will give a clear picture on US inventory levels.

October aluminium futures were trading at ₹324.50 on MCX during the initial hour of trading on Wednesday against the previous close of ₹326.40, down by 0.58 per cent.

On the National Commodities and Derivatives Exchange (NCDEX), December turmeric (farmer polished) contracts were trading at ₹25,150 in the initial hour of trading on Wednesday against the previous close of ₹24,904, up by 0.99 per cent.

December cottonseed oilcake futures were trading at ₹3,627 on NCDEX in the initial hour of trading on Wednesday against the previous close of ₹3650, down by 0.63 per cent.

Published on October 21, 2026