You are using an outdated browser For a better experience using this site, please upgrade to a modern web browser. Subscribe Get Daily Email Subscribe --> Contact Us Sign in Home News & Features Compliance Costs Bunker Prices Bunker Intelligence World News Latest Features World Americas EMEA Asia/Pacific Home News & Features World Crude Extends Losses As Iran Faces New Reality of Zero Oil Revenue Crude Extends Losses As Iran Faces New Reality of Zero Oil Revenue by Ship & Bunker News Team Monday October 5, 2026 Tweet Follow @shipandbunker Meanwhile, energy executives say market turmoil could last for years: File Image/Pixabay The new trading week kicked off with another round of losses for crude on Monday, with reduced concerns expressed over supply shortages due to the U.S.-Iran war but executives fretting anyway that market “bedlam” could last for years. Monday’s trading behaviour also suggested that traders may be becoming hardened to the ceaseless media coverage of Middle East hostilities that previously caused jitters about supply, the latest being Iran-backed Houthis attacking an airport, refinery and military base in Saudi Aradia , and the Saudis destroying weapons depots, explosive storage facilities and naval mines belonging to the group. Col. Turki Al-Maliki , the official spokesman for coalition forces, said  the retaliation was to “protect maritime navigation security in the Bab al-Mandab Strait ,” and he added that “We have thwarted a plot for imminent attacks targeting the waterways south of the Red Sea .” “ The crude reality is that pressure at both ends of the barrel will intensify Amin Nasser, chief executive, Saudi Aramco Brent settled down 1.8 percent at $100.32 per barrel, while West Texas Intermediate also settled down 1.8 percent to $89.43 per barrel. Despite traffic through the Strait of Hormuz returning to pre-war levels and the Saudis proving exceedingly adept at moving crude through a waterway Iran still insists it controls