Brent eases as Russian diesel hopes reduce supply fears
Brent crude fell 1% to $105.6 as expected Russian diesel supplies eased fuel concerns. Goldman Sachs reportedly sees Brent at $90 in December 2026, while Indian energy derivatives show short-term bearish positioning.
after close1 source ↓machine-written, see hownot a recommendation
- ONGC close
- ₹220.00
- On the day
- -0.57%
- Futures OI, long unwinding
- -0.0%
- Put-call ratio
- 0.49
- Max pain
- ₹225.00
Global crude prices eased on 13 Oct 2026 as expectations of increased Russian diesel supplies reduced concerns about fuel availability. Brent crude futures fell 1% to $105.6 per barrel, while West Texas Intermediate declined 1% to $92.8. The retreat followed a nearly $2 per barrel rally in both benchmarks on 12 Oct, when traders focused on possible disruptions to Gulf energy infrastructure and shipping routes. Brent had settled at its highest level since 15 Sep.
The new report also cited Goldman Sachs' view that Brent could reach $90 per barrel in December 2026 amid continuing West Asia supply risks. That forecast places the current $105.6 Brent price against a possible later easing in prices, although the path remains dependent on supply flows, sanctions and geopolitical developments ⚡.
The prospect of additional Russian diesel supplies reduces some immediate pressure on refiners, fuel distributors and energy-intensive industries. However, crude remains materially above recent levels, preserving a mixed backdrop for Indian energy companies. Higher crude supports upstream revenue sentiment but raises input costs for fuel consumers and can pressure refining and marketing margins when product prices do not adjust in tandem.
OI Charts data for the tracked upstream energy counter showed a close of ₹220 on 12 Oct, down 0.6% on the day and 7.3% over 20 sessions. Its futures showed long unwinding, with open interest broadly unchanged, while the put-call ratio stood at 0.49. The ₹225 call open-interest concentration and ₹220 put concentration frame the near-term derivatives range, with max pain at ₹225.
The tracked diversified energy counter closed at ₹1,159, down 1.0% on 12 Oct and 9.0% over 20 sessions. OI Charts data showed a 1.9% rise in futures open interest alongside the price decline, indicating short build-up. Its put-call ratio was 0.62, with the largest call open interest at ₹1,250, the largest put open interest at ₹1,160 and max pain at ₹1,200.
Traders will watch whether Brent holds above $100, whether Russian diesel flows materialise, and how Middle East shipping risks develop 🚢. The 27 Oct derivatives expiry provides the next positioning checkpoint.
Source: Free Press Journal, 13 Oct 2026
Not investment advice. For informational purposes only.