# Oil Prices Stall Near Multi-Month Highs as Ukraine Peace Talks Offset Hormuz Attacks

> Ukraine peace talks and Hormuz attacks balance oil prices near multi-month highs.
- Title: Oil Prices Stall Near Multi-Month Highs as Ukraine Peace…
- Summary: Ukraine peace talks and Hormuz attacks balance oil prices near multi-month highs. Oil prices stalled near multi-month highs as Ukraine peace talks offset…
- Keywords: brent crude, wti, strait of hormuz, vladimir putin, u.s. crude inventories, diesel prices, iran, saudi aramco, houthi, u.s. energy information administration, finance, markets
- Source: BigGo Finance — https://finance.biggo.com/news/74a29026-e0a7-4744-8387-8dd18ae8e157
- Author: BigGo Finance
- Published: 2026-10-22T01:55:49+00:00
- Read time: 1 min
- Topics: brent crude, wti, strait of hormuz, vladimir putin, u.s. crude inventories, diesel prices, iran, saudi aramco, houthi, u.s. energy information administration, finance, markets
## Oil Prices Stall
Brent crude settled up 3 cents at $108.82 a barrel while WTI fell 67 cents to $97.15 on Wednesday.
## Ukraine Peace Talks
Kremlin said Vladimir Putin agreed to resume U.S.-mediated Ukraine peace talks as soon as next month.
## Hormuz Attacks
Kpler counted at least 18 vessel attacks over two weeks with Iranian targeting extending into Gulf of Oman.
## U.S. Crude Inventories
U.S. crude inventories fell by 3.06 million barrels to 412.5 million barrels, far more than analysts expected.
## Distillate Stocks
Distillate stocks unexpectedly rose 1.68 million barrels to 104.3 million barrels, defying forecasts for decline.
## Dennis Kissler's View
Dennis Kissler said peace talks could unlock tight global diesel supplies that have driven crude prices higher.
## Iranian Response
Iranian Foreign Minister Abbas Araqchi said Iran is prepared to defend itself while President Masoud Pezeshkian warned against U.S. dialogue.
## Houthi Strikes
Houthis claimed responsibility for strikes on Saudi Aramco site, Shaybah oilfield, and airports in Riyadh and Abha.
## U.S. Heating Oil Reserve
U.S. Energy Department offered to lend up to one-third of emergency heating oil reserve to ease diesel prices.
## Key takeaway

Oil prices stalled near multi-month highs as Ukraine peace talks offset Hormuz attacks.