# Oil Prices Little Changed as Middle East Tensions Rise

> Oil prices little changed Wednesday as Middle East supply risks push markets on edge.
- Title: Oil Prices Little Changed as Middle East Tensions Rise · CNBC
- Summary: Oil prices little changed Wednesday as Middle East supply risks push markets on edge. Oil prices rose slightly on Wednesday amid Middle East tensions, with…
- Keywords: oil prices, brent crude, wti crude, strait of hormuz, iran, houthi militants, saudi arabia, oil attacks, business, finance, Oil, Prices
- Source: CNBC — https://cnbc.com/2026/10/21/oil-price-today-wti-brent-rise-on-middle-east-worries.html
- Author: Lee Ying Shan
- Published: 2026-10-21T05:27:19+00:00
- Read time: 1 min
- Topics: oil prices, brent crude, wti crude, strait of hormuz, iran, houthi militants, saudi arabia, oil attacks, business, finance
## Oil Prices Little Changed
Oil prices were little changed Wednesday as escalating supply risks in the Middle East keep investors on edge.
## Middle East Attacks
Attacks on tanker near the Hormuz Strait and Saudi Arabian facilities by Iran-backed Houthis have raised regional tensions.
## Price Movements
Brent crude futures lost 17 cents to $108.62 a barrel as of 8:47 a.m. ET, while U.S. West Texas Intermediate crude rose 8 cents to $97.90 a barrel.
## Shipping Costs Surge
Global average crude freight rates have surged above $20 per barrel, compared with $3 a year earlier, according to a Goldman Sachs report.
## Key takeaway

Oil prices rose slightly on Wednesday amid Middle East tensions, with Brent crude at $108.62 and WTI at $97.90 per barrel due to attacks on tankers near the Strait of Hormuz and Saudi facilities.