# Oil Futures Rise as Traders Reassess Supply Risks Through 2028

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/32434
Published: 2026-10-15T10:39:01.000Z
Updated: 2026-10-15T10:39:01.000Z
Section: Investing

> December 2027 Brent futures reached $86 a barrel, while European diesel futures for the same month topped $1,000 per metric ton this week.

Long-dated oil and diesel futures have climbed as traders weigh supply disruptions that could keep energy costs elevated into 2028, despite expectations for a global oil surplus next year.

Brent crude futures for delivery in December 2027 have risen more than 13% since early September to $86 a barrel, the highest price since the contract was listed. The December 2026 Brent contract gained about 12% over the same period.

The gains contrast with the International Energy Agency’s expectation that global oil supply will increase in 2027 and leave the market with a surplus. The Iran war has lasted longer than markets expected, prompting oil traders to reassess the energy outlook and whether supply can recover as projected.

Oil flows through the Strait of Hormuz have recently approached prewar levels, but supply risks remain. They include Iranian attacks on ships, increased Houthi attacks on Saudi Arabia and damaged refining capacity.

Diesel futures also point to pressure in energy markets. European benchmark contracts reached a record $1,480 per metric ton in mid-September. The December 2027 contract rose above $1,000 per ton for the first time this week, compared with $644 before the war.

Even if the fighting ends, energy costs may take time to ease. Repairs to damaged refineries, inventory replenishment and rebuilding logistics networks would take time. Transportation, insurance and military escort costs may also persist, extending pressure on energy markets.