Brent crude extends rally toward $89 as supply risks persist

Energy benchmarks post fourth consecutive session of gains, with traders weighing persistent supply-side vulnerabilities against modest pullbacks from intraday highs.

By Handelsavisen Newsroom · Automated 2026-07-31 16:02 UTC · 1 min read

Brent crude futures extended their recent rally, trading near $89 a barrel in late-session activity on the ICE Futures exchange.

The benchmark maintained positive momentum despite retreating slightly from its intraday peak, marking a continuation of the upward trend that has defined the market over the past several days.

This session’s performance follows a period of sustained buying interest, with Brent previously climbing more than 1% to approach $86 a barrel in earlier trading.

West Texas Intermediate (WTI) also posted modest gains, mirroring the strength in the North Sea benchmark.

The synchronized move underscores a market regime where energy assets are outperforming broader equities, driven by persistent concerns over supply-side vulnerabilities.

Traders appear to be pricing in ongoing risks to global supply chains, keeping a premium on crude despite the absence of a single new headline catalyst.

This session’s performance follows a period of sustained buying interest, with Brent previously climbing more than 1% to approach $86 a barrel in earlier trading.