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Random freezes, missing sound and display glitches usually trace back to one bad driver. Find and replace yours safely.Free scan · under a minuteOil prices were little changed in the October 7 morning snapshot as higher Middle East exports countered concerns about conflict-related supply disruptions and a developing Gulf of Mexico storm. At 0800 GMT, Reuters reported Brent futures at $100.93 a barrel and West Texas Intermediate (WTI) futures at $89.59. Those are time-specific quotes, not live prices or a prediction of where prices will finish the day.
What were oil prices on October 7?
At 0800 GMT on October 7, 2026, Reuters reported Brent crude futures at $100.93 per barrel, up $0.35, or 0.35%, and U.S. WTI futures at $89.59 per barrel, up $0.15, or 0.17%. The description “stable” applies to that morning snapshot; prices can move during the trading session. Reuters report carried by The Citizen
Why did higher Middle East exports matter?
More oil reaching the market can ease pressure on prices when traders are worried about shortages. Reuters reported that Saudi Energy Minister Prince Abdulaziz bin Salman said flows through the East-West pipeline had risen to 5.8 million barrels per day. The pipeline provides a route that can bypass the Strait of Hormuz.
The U.S. Energy Information Administration (EIA) separately reported that the pipeline had partially resumed flows after repairs as of September 22. Its October 2026 outlook estimated that Middle East exports increased in September compared with August, despite continued attacks. EIA also noted that lost Red Sea exports were partly offset by shipments returning through Hormuz, including transfers between ships off Oman. These are different claims: the 5.8 million-barrel figure was attributed to the Saudi minister by Reuters, while EIA supplied its own assessment of export changes and routes. EIA October 2026 Short-Term Energy Outlook
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Why did supply remain at risk?
Production was still disrupted
Higher exports did not mean that oil production had returned to normal. EIA estimated average crude-production shut-ins—production temporarily taken offline—at 4.8 million barrels per day in September. That was down from 5.8 million barrels per day in August and 10.9 million barrels per day at the May peak, but remained substantial.
Conflict could still disrupt shipments and infrastructure
Attacks on oil infrastructure and tankers remained a source of uncertainty. EIA estimated that Brent crude spot averaged $114 per barrel in September, $23 above August, following attacks on oil infrastructure and tankers. The agency described ongoing volatility in flows and prices as inventories and export routes adjust. The September spot-price estimate is distinct from the October 7 futures quotes above.
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A Gulf of Mexico storm was a forecast risk, not a confirmed outage
Reuters reported that U.S. forecasters expected a storm forming in the Gulf of Mexico to become the first Atlantic hurricane of 2026 within two days and said it was likely to affect oil and gas facilities. The offshore areas in its reported path account for 15% of U.S. crude production and 5% of U.S. natural-gas production, according to Reuters. Those exposure figures and the forecast were not independently confirmed against a primary weather or regulator source here. The report does not establish that facilities had shut in or that damage had occurred.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the EIA forecast—and what it depends on
EIA forecast that Brent spot would average $105 per barrel in the fourth quarter of 2026, $14 above its previous month’s outlook. This is an agency forecast, not an observed price or a guarantee. It assumed Middle East flows would remain constrained and average crude-production shut-ins would be 4.5 million barrels per day in the quarter.
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The agency said workarounds—including pipelines, overland routes, ship-to-ship transfers, and new UAE bypass capacity expected in 2027—could gradually reduce shut-ins. The forecast therefore combines an expectation of continued disruption with the possibility that alternative routes will restore some supply. Actual prices and flows may differ if conflict, exports, or infrastructure conditions change. EIA October 2026 Short-Term Energy Outlook
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