NYMEX Overview: Futures Turn Lower as Mideast Peace Weighed — OPIS

Crude and refined product contracts were trading lower in choppy trade around midday Tuesday, as the market focused on the latest diplomatic efforts to end the Middle East conflicts -- news that should boost global petroleum supply.

At 11:35 a.m. ET, December NYMEX West Texas Intermediate crude futures were down $1.70 at $100.05/bbl, and January WTI was $1.15 lower to $98.30/bbl.

London-based ICE December Brent was down by $1.90 to $113.90/bbl and January Brent was about $1.30 lower to $109.45/bbl.

Earlier, both oil benchmarks traded higher after a coalition led by Saudi Arabia said it intercepted and destroyed three ballistic missiles launched by Yemen's Iran-backed Houthi militia. The missiles were fired toward the kingdom's eastern region, along with four drones aimed at its southern region.

Refined product futures tracked crude to trade solidly lower. More-active December NYMEX USLD contracts were about 9cts lower to $4.6455/gal, and November ULSD was down 11.45cts to $4.7975/gal. December RBOB was 4.6cts lower to $3.0860/gal and November RBOB was down by 6.05cts to $3.1580/gal.

Iran, Saudi Arabia, Pakistan and Turkey agreed to continue talks on regional peace and security after senior officials met in Tehran on Monday, according to a joint statement issued after the meeting.

Saudi Arabia's Foreign Ministry said the visit was part of efforts to reduce tensions and support mediation by Qatar and Pakistan. The ministry called for opening channels of negotiation to prevent a return to military escalation in the region, following recent reports that the U.S. and Israel were planning new attacks on Iran.

This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.

Reporting by Frank Tang, frank.tang@dowjones.com; Editing by Dean Visser, dean.visser@dowjones.com

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(END) Dow Jones Newswires

October 27, 2026 12:37 ET (16:37 GMT)