Oil Rises About 0.7% as YPF Falls 3.1% | Oil, Oct 29
Key Facts
- Brent oil, the global benchmark, rose about 0.6% to roughly US$111 a barrel on Thursday, October 29, and US crude (WTI) gained about 0.7% to near US$103.
- The US oil fund USO gained 0.97% to US$168.19 and the Brent fund BNO rose 0.88%, in line with the futures.
- Latin American producers fell: Argentina’s YPF lost 3.12% and Colombia’s Ecopetrol 2.26%, while Brazil’s Petrobras slipped 0.59% in New York.
- US crude stocks fell by 1.9 million barrels in the week to 23 October, to 410.6 million barrels, the US Energy Information Administration (EIA) reported on Wednesday.
- Prediction markets: Polymarket, a prediction market, puts 33.5% on WTI crude touching US$105 and 27.5% on falling to US$100 at some point in October, as of 29 October 2026, 8:45 pm ET.
Today’s Focus
Oil edged higher at very high levels on Thursday. Brent futures rose about 0.6% to roughly US$111 a barrel, and US crude (WTI) gained about 0.7% to near US$103.
The US oil fund USO, which tracks WTI futures, rose 0.97% and the Brent fund BNO 0.88%.
Latin America’s listed producers had a poor day: YPF, Argentina’s state-controlled oil company, fell 3.12%, and Ecopetrol, Colombia’s, 2.26%.
What matters today. Oil at more than US$100 a barrel feeds US petrol prices and the budgets of Brazil, Colombia and Argentina, so even small daily moves matter to both producers and US drivers.
01 The session in one read
Brent closed near US$111.4, up about 0.6% from about US$110.8, and WTI near US$102.7, up about 0.7%, according to futures prices.
The USO fund closed at US$168.19, up 0.97%, and the BNO fund, which tracks Brent, at US$70.76, up 0.88%.
Energy shares in the US rose modestly, with the XLE fund up 0.38% to US$68.71.
The benchmarks rose about 0.6% to 0.7% and US oil funds gained close to 1%, but the shares of YPF and Ecopetrol fell by 3.12% and 2.26%, so the weakness was local to those companies and their markets.
The variable to watch is whether Brent holds above US$110.
02 The board
The table shows New York closes. The EIA’s weekly report, released on Wednesday, showed US commercial crude stocks of 410.6 million barrels, down 1.9 million, with gasoline stocks up 3.9 million to 209.2 million and distillate stocks down 1.5 million to 102.8 million.
Petrobras, Brazil’s state-controlled producer, fell 0.59% to US$21.90.
| Asset | Level | Change |
|---|---|---|
| US oil fund (USO) | US$168.19 | +0.97% |
| Brent fund (BNO) | US$70.76 | +0.88% |
| Energy shares fund (XLE) | US$68.71 | +0.38% |
| Petrobras | US$21.90 | −0.59% |
| YPF | US$47.81 | −3.12% |
| Ecopetrol | US$17.28 | −2.26% |
Source: RT close, 2026-10-29. Where a commodity has no spot feed, an exchange-traded tracker or leading producer is shown as a labelled proxy.
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Latin America — Cross-Market Board
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 169,186.42 | -1.06% | +19.56% | 171,006.10 | 178,526 | 175,157 | — |
| IPSA | 10,545.23 | -1.24% | — | 10,677.94 | 10,722 | 10,633 | — |
| IPC MEX | 69,441.29 | +0.37% | +12.74% | 69,182.39 | 70,008 | 69,383 | 49,372,306 |
| MERVAL | 2,848,945 | — | +12.65% | 2,859,051 | — | — | — |
| COLCAP | 2,489.93 | -0.63% | — | — | — | — | — |
| USD/BRL | 5.34 | -1.32% | -0.84% | 5.42 | 5.42 | 5.30 | — |
| EUR/BRL | 5.95 | +7.53% | -4.87% | 5.54 | 6.04 | 5.92 | — |
| USD/MXN | 18.69 | +0.62% | +1.45% | 18.57 | 18.69 | 18.54 | — |
| USD/CLP | 983.47 | -0.57% | +5.64% | 989.13 | 991.87 | 979.07 | — |
| USD/COP | 3,149 | +3.06% | -18.02% | 3,056 | 3,173 | 3,111 | — |
| USD/PEN | 3.45 | +0.17% | +3.85% | 3.44 | 3.45 | 3.44 | — |
| USD/ARS | 1,537 | -0.28% | +3.77% | 1,541 | 1,541 | 1,537 | — |
| USD/UYU | 40.21 | +3.57% | +2.29% | 38.83 | 40.21 | 40.08 | — |
| USD/PYG | 5,803 | +3.78% | -16.54% | 5,592 | 5,803 | 5,735 | — |
| USD/BOB | 11.97 | +4.93% | +77.92% | 11.41 | 11.97 | 11.82 | — |
| USD/DOP | 60.54 | +1.83% | -4.34% | 59.45 | 61.14 | 59.85 | — |
| USD/CRC | 451.24 | +2.13% | -7.80% | 441.83 | 451.40 | 450.04 | — |
| USD/GTQ | 7.64 | +3.23% | +2.18% | 7.40 | 7.64 | 7.64 | — |
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03 What moved it
The Bureau of Economic Analysis (BEA), the US statistics agency, said US growth was 3.4% at an annual rate in the third quarter, above the 3.2% forecast in the RT economic calendar, which supports fuel demand.
We could not confirm a single driver for oil’s small moves on the day.
04 The Latin American read
Brazil’s Petrobras barely moved in New York, and its São Paulo shares fell about 0.6% as the Ibovespa lost 1.06%.
Argentina’s Merval fell about 1% and YPF’s New York shares dropped 3.12%. Colombia’s COLCAP lost 0.63% and Ecopetrol 2.26%.
05 The names to watch
Petrobras, YPF and Ecopetrol are the main Latin American oil names for US investors.
For a broad bet on oil, USO tracks US crude futures and XLE holds US energy shares.
06 The outlook
Oil above US$100 keeps pressure on consumers and supports producers’ earnings.
The next signals are weekly US stock data and any change in supply decisions by major producers.
What Prediction Markets Say
On Polymarket, a prediction market, traders put the chance that WTI crude touches US$105 at some point in October at 33.5%, and the chance it falls to US$100 at 27.5%. About US$5.3 million has been traded on the October market, as of 29 October 2026, 8:45 pm ET.
Prices on prediction markets are bets, not polls or forecasts by officials.
Why we show this: prediction markets turn real-money bets into a live probability that moves within minutes of the news, which is why investors, campaigns and newsrooms in the United States now follow them closely. We show them next to polls and official results, never instead of them.
07 What to watch
- Brent above US$110: A drop below would be a notable shift.
- US weekly stocks: The EIA’s next report shows whether crude stocks keep falling.
- YPF and Ecopetrol: Both fell sharply despite high oil.
- US dollar: A weaker dollar usually supports oil.
Frequently Asked Questions
Did oil rise or fall on Thursday?
Oil rose modestly: Brent gained about 0.6% to roughly US$111 and WTI about 0.7%, while the USO fund rose 0.97%.
What did the EIA report?
US commercial crude stocks fell 1.9 million barrels to 410.6 million in the week to 23 October.
How did Latin American oil companies do?
YPF fell 3.12%, Ecopetrol 2.26% and Petrobras 0.59% in New York.
What is the USO fund?
USO is a US-listed fund that tracks US crude oil futures.
Market data: RT
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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