Crude oil prices fell on October 20 as markets anticipated diplomatic progress between the US and Iran, even as attacks on oil tankers and Houthi strikes on Saudi Arabia kept escalating. The November WTI contract dropped 1.8% to $101.79 per barrel, pulling away from an intraday high of $110.48, while December Brent settled down 0.7% at $108.79. Kpler said at least 18 ships were attacked in the Strait of Hormuz over the past two weeks. Trump said earlier this month that US forces would not strike Iran before the November 3 midterm elections. PVM analyst Tamas Varga pointed to tightening global supply and a possible US sanctions waiver on Russia's shadow fleet, which could lower freight costs.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Giá dầu giảm nhờ kỳ vọng Mỹ và Iran tiến triển về ngoại giao
Read the original on Vietstock ↗
Keywords
oil pricesIranStrait of Hormuzgeopolitics
Open a keyword to see other news on the same topic.
Related tickers and likely impact
SPY
▲ Likely positiveSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/20/2026 | 769.01 |
| Change that session | +0.33% |
XAU/USD
• NeutralRelevance: low
| Market | Gold |
|---|---|
| Close on 10/20/2026 | 4,125.21 |
| Change that session | -0.38% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Business - HITS FM
Global oil prices rose to their highest level since May on Tuesday after Iran and its Houthi allies claimed attacks on Middle East oil infrastructure. Brent crude briefly topped $111 a barrel before easing to $110.30, a rise of more than 55% since the Iran war began in late February. West Texas Intermediate jumped to $105.75, up more than 60% since the war started, and the average U.S. gasoline price reached $4.27 a gallon, according to AAA, nearly $1.30 higher since late February. The UKMTO reported an incident involving a tanker off Oman, Iranian media said two tankers hit naval mines south of the Strait of Hormuz, and Houthi strikes hit Saudi facilities including the Shaybah oil field and Saudi Aramco's Yanbu site. U.S. inflation hit a three-year high in May before easing over the summer, but the tentative accord with Iran expired in August and attacks have continued.
- IRAN STRATEGY : Tehran Deliberately Delaying U . S . Negotiations To Weaken Trump Before Midterms
According to Reuters, several senior Iranian officials say Tehran is deliberately prolonging negotiations with the United States to weaken President Donald Trump before the November 3 midterm elections, while preparing for possible renewed U.S. and Israeli strikes. They believe a deal before the vote would hand Trump a political win, while the conflict, high gasoline prices and economic uncertainty are liabilities for Republicans. Washington wants Iran's nuclear program on the table from the outset, while Tehran insists sanctions relief and an end to hostilities come first; Iran has proposed reopening the Strait of Hormuz within seven days if the U.S. lifts its maritime blockade, eases oil export curbs, releases frozen assets and ends military operations. Iran's economy is also badly strained, with annual inflation at 73.6% in September, the rial down nearly 35% against the dollar since July, and seaborne crude exports at zero since the second week of September.
- Iran intentionally prolonging talks ahead of US midterms, officials say
Three senior Iranian officials and an insider say Tehran has deliberately prolonged talks with Washington to weaken Donald Trump politically before the November 3 midterm elections. Officials believe Tehran expects renewed US attacks and sees little chance of a breakthrough before the vote. Iran has effectively kept the Strait of Hormuz closed since the war began, while the US naval blockade and sanctions have cut off its oil export revenues. Iran's proposal, conveyed through Qatari mediators, would reopen the strait within seven days under Iranian control if Washington lifts the blockade, eases oil sanctions, releases frozen assets and ends hostilities, while the US wants the nuclear program on the table from the outset. Iran's economy is strained, with annual inflation at 73.6% in September and the rial down nearly 35% against the dollar since July.
- Two Oil Tankers Hit Mines While Crossing Strait Of
Iran's Revolutionary Guards Navy said two oil tankers caught fire after hitting naval mines while crossing the Strait of Hormuz, according to IRNA, and state media said both carried about 2 million barrels of crude. There was no independent confirmation of these reports. IRNA said the vessels had switched off their positioning and radar systems, used an unauthorised route, and that one was left immobilised after striking a mine. The incidents come amid heightened tensions, with attacks around the waterway surging over the past two weeks as Iran responds to a US blockade of its ports and tougher sanctions, and a container ship and a dry bulk carrier sank after being hit by projectiles earlier.
- Iran plan to open shipping lane still on the table
Iran's Foreign Minister Abbas Araqchi says Tehran's offer to reopen the Strait of Hormuz within seven days remains on the table, though Iran's security chief said talks stalled because Washington did not address all seven conditions. Iran wants the lifting of the US blockade on its ports and of sanctions on its oil exports, plus an end to hostilities on all regional fronts; if accepted, the strait could reopen within six days, with talks resuming the next day. Washington insists on addressing Iran's nuclear program from the outset, and Vice President JD Vance has said Iran must make a 'meaningful' cut to uranium enrichment capacity to end the eight-month war. Meanwhile, Iran's Revolutionary Guards navy says two oil tankers caught fire after hitting naval mines, a claim not independently confirmed, and maritime officials reported that a container ship and a dry bulk carrier sank near the strait after being hit by projectiles.
- Iran plan to open shipping lane still on the table
Iranian Foreign Minister Abbas Araqchi says Iran's offer to reopen the Strait of Hormuz within seven days remains on the table, while Tehran reviews Washington's response. Iran's conditions include lifting the US blockade of its ports and US sanctions on its oil exports, plus ending hostilities on all regional fronts; if accepted, the strait could reopen within six days. Washington wants Iran's nuclear program addressed from the outset, and Vice President JD Vance has demanded a “meaningful” cut in Iran's uranium enrichment capacity. Iran's Revolutionary Guards say two oil tankers caught fire after hitting naval mines while crossing the strait, a claim IRNA reported without independent confirmation. The waterway is only 35 to 40 km wide at its narrowest point, and the conflict there has pushed up global energy prices and inflation.
Related markets
Latest news
- Trump to throw spotlight on overseas crypto abuses at White House event
President Donald Trump is set to highlight his administration's efforts to pursue overseas crypto criminals at a White House cybercrime event on Wednesday, according to an official. U.S. law enforcement has halted about $833 million in crypto tied to overseas scams, and 503 fraudulent crypto websites have been seized under the Homeland Security Task Force. Authorities have also informed almost 9,000 U.S. citizens that they are being victimized. The transnational criminal organizations behind these scams have stolen tens of billions of dollars from Americans, and the Treasury formed a multi-agency Scam Center Strike Force in November. Meanwhile, Trump's personal crypto ties may have become a political liability as the midterm elections approach in a couple of weeks.
- AI is building out the new Industrial Revolution: Nvidia's Jensen Huang
Nvidia CEO Jensen Huang delivered a keynote at the GTC Berlin event, where he emphasized that AI is helping build the new Industrial Revolution. He noted that AI is becoming increasingly integrated into manufacturing processes.
- Musk's SpaceX-Tesla Merger Would Create a Bitcoin Treasury Behemoth
Elon Musk said the boards of SpaceX and Tesla have formed special committees of independent directors to weigh a merger, while cautioning that a deal is not a certainty. Combined, the two would hold 30,221 BTC, worth roughly $2.5 billion at a Bitcoin price near $83,000, making it one of the largest non-mining corporate Bitcoin treasuries. Tesla reported 11,509 BTC in its latest quarterly filing, while SpaceX disclosed 18,712 BTC in its S-1 ahead of its June IPO, a stash largely invisible to public markets and more than double previous blockchain-tracker estimates. The combined cost basis is around $1 billion, implying an average buy price near $35,000 per coin. A merger would not change Bitcoin itself but would alter governance and accounting, placing the holdings in one public company subject to quarterly disclosures; neither company has signaled plans to buy or sell.
- Musk's SpaceX-Tesla Merger Would Create a Bitcoin Treasury Behemoth
Elon Musk said the boards of SpaceX and Tesla have formed special committees of independent directors to weigh a merger, while cautioning that a deal is not a certainty. Combined, the two would hold 30,221 BTC, worth roughly $2.5 billion at a Bitcoin price near $83,000, making it one of the largest non-mining corporate Bitcoin treasuries. Tesla reported 11,509 BTC in its latest quarterly filing, while SpaceX disclosed 18,712 BTC in its S-1 ahead of its June IPO, a stash largely invisible to public markets and more than double previous blockchain-tracker estimates. The combined cost basis is around $1 billion, implying an average buy price near $35,000 per coin. A merger would not change Bitcoin itself but would alter governance and accounting, placing the holdings in one public company subject to quarterly disclosures; neither company has signaled plans to buy or sell.
- Chainlink, Cardano, other blockchain groups push SEC for clearer crypto rules
Six major blockchain organizations, including Chainlink Labs, Cardano Foundation, Hedera, Aptos Labs, Ava Labs and Stellar Development Foundation, urged the SEC in a joint letter dated Oct. 20 to formally classify digital commodities as non-securities. They argued that interpretive guidance alone leaves legal uncertainty, and that this classification should be written directly into the proposed Regulation Crypto Assets framework. The letter also asks for clarity on how securities laws apply to secondary-market transactions, as well as on staking and other activities tied to decentralized blockchain networks. The SEC's proposal, introduced in August, drew roughly 140 public comments over 60 days, and the consultation closed on Tuesday.
- Government to submit new resolution on wage policy to Central Committee
Deputy Prime Minister Phạm Thị Thanh Trà said during a group discussion on the afternoon of Oct. 21 on laws covering labor, employment and social insurance that the Government is drafting a proposal to report to the Political Bureau. The proposal is expected to go to the Central Committee at its Fifth Plenum to issue a new resolution on wage and social insurance policy, replacing Resolutions No. 27-NQ/TW and No. 28-NQ/TW. According to the Deputy Prime Minister, the current amendment to the Social Insurance Law mainly addresses immediate issues such as expanding coverage, while a more fundamental and comprehensive revision will follow the new resolution. For the Employment Law, the focus is cutting unnecessary licenses and reviewing rules on labor leasing, though simplifying procedures does not mean loosening management. Lawmakers also raised rules on depositing funds in joint-stock commercial banks with state capital, and the Government aims for safety, sustainability and timely payment of benefits.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.