Brent Jumps to $114.72 Amid Supply Disruption and Fuel Pressure on United
Key Facts
Brent crude touched $114.72 a barrel on Friday before rising 79 cents, or 0.7%, to $113.96 at 0810 GMT, its highest level since May 4. Crude advanced as concerns grew over disruptions to energy supplies in the Middle East, while airlines faced direct exposure to fuel costs. Reuters linked the rise to Houthi attacks in Saudi Arabia and the concern they raised about further supply disruption. As for United Airlines stock, the available data confirms only that it closed at $102 on Oct. 22. The available price therefore does not substantiate a claim that the stock fell on Friday, nor does it establish its trading movement that day.
Brent was on track for a third consecutive weekly gain of about 4% in the week ended Oct. 23, while West Texas Intermediate was headed for a 0.8% weekly decline. The divergence highlights that the two crude benchmarks did not move in tandem during the week, even as Brent rose amid supply concerns. An Oct. 6 Associated Press report estimated Brent at near $100 a barrel, compared with about $70 before the Iran war. That places the latest increase within a broader rise in energy prices since the war began, according to the report. These levels matter to the airline industry because United’s fuel bill had already increased in the third quarter.
Iran said seven oil tankers caught fire or were damaged in the Strait of Hormuz overnight from Wednesday to Thursday after being struck or hitting naval mines. The Associated Press said it could not independently verify the claims. In a report on shipping activity, Lloyd’s List Intelligence said 28 attacks on ships were recorded in October, the highest number since the war began. Still, the agency said tankers continued to transit the strait under U.S. military protection, and quoted the list as saying, "Active Gulf operators show little indication of retreating." These developments add to market concerns about the impact of regional tensions on energy flows, while Reuters attributed Brent’s rise specifically to Houthi attacks in Saudi Arabia and supply concerns.
United’s third-quarter results presented a mixed picture of revenue growth and rising operating costs. Total operating revenue was $17.875 billion, up 17.4% from the same period in 2025, and the company said it set a quarterly revenue record. Fuel expense, meanwhile, rose 62%, with the average fuel price reaching $3.90 a gallon during the quarter. Adjusted diluted earnings per share were $2.54, which the company said was within its guidance despite the increase in fuel expense. The figures show record revenue growth coinciding with a larger fuel burden, a prominent operating factor in assessing the airline’s sensitivity to oil price swings.
Looking ahead, United said it expects total operating revenue growth to accelerate in the fourth quarter compared with the third quarter, with an annual increase of more than 20% and a new record. The company held its third-quarter earnings call on Oct. 21, 2026, and its investor relations page does not list an announced upcoming date. United’s share price movement on Oct. 23, meanwhile, is not substantiated by the EL7 data provided; the latest documented close is $102 on Oct. 22. A Friday decline therefore cannot be attributed to higher oil prices or geopolitical tensions based on an available dated price. The company’s announced fourth-quarter revenue growth and third-quarter fuel costs remain the most prominent available operating context for assessing its position.