WTI Crude Touches $100 as Iran Denies Diplomatic Progress

West Texas Intermediate (WTI) crude touched $100 a barrel Wednesday, Oct. 21, as Iran denied progress in diplomatic talks, bringing energy costs and broader market risk back into focus.

Brent crude, the international benchmark, was quoted at $108.28 a barrel during the session, up $2, or 1.88%. WTI’s $100 mark was a price reached during trading, while the Brent figure was a snapshot. Neither figure represents a closing price. An intraday level shows where oil traded, not where it finished the day.

U.S. crude inventories also declined, adding a domestic supply development to the diplomatic news. The two developments kept attention on both the amount of oil in U.S. storage and the outlook for talks with Iran.

WTI is a U.S. crude benchmark, while Brent is an international one. Oil prices form part of the energy cost and inflation backdrop watched by investors across markets, including crypto.