Global Trade
October 26, 2026
Written by Edward Meir
Energy markets were very much the focus of attention this past week, as Brent approached the highs last seen at the onset of the Iran war. The complex gained almost $7/barrel on the week, ending at just under $117/b. WTI ended roughly unchanged, at $103.44/b.
Distillates were up $0.08/gallon, closing above $5/gallon for the first time in a month.
Growth was driven largely by imports of semi-fabricated aluminum products rather than increased shipments from domestic producers, the Aluminum Association found.
EGA has restarted 631 of Al Taweelah’s 1,262 reduction cells and still expects the smelter to return to full production in Q1 2027.
Recycler forward views shifted toward undersupply in October even as Midwest Premium and UBC expectations moved lower.
Aluminum sheet lead times rose modestly in October, while broader supply indicators remained largely stable after September’s shift.
