Crude Oil Closes In on a Four-Year High With $110 Odds Rising
As seen on the 24/7 Wall St. homepage on October 23, 2026.
Traders now put a 34% chance on US crude clearing $110 before month-end, with Brent within 2% of a four-year high. Energy names and the inflation path both hinge on whether that bid holds.
BREAKING: There is now a new high 34% chance of US crude oil prices rising above $110/barrel by the end of this month. This comes as Brent crude oil prices are now less than 2% away from hitting a fresh 4-year high. $100+ oil is back. https://t.co/fjIQrxp4O4
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Options markets are pricing a record 34% chance that US crude clears $110 per barrel before the end of October, according to The Kobeissi Letter on October 23.
Triple-digit oil would expand energy sector margins while loading immediate cost pressure onto transportation, manufacturing, and consumer-facing companies.
Oil at or above $110 feeds directly into headline consumer price readings, complicating the Federal Reserve's rate path and tightening financial conditions.
Whether the bid holds into month-end is the question traders are watching.