Brent Crude Surpasses 117 Dollars Amid Regional Tensions and Security Concerns
According to the International Desk of Webangah News Agency, energy markets experienced a notable upward shift on Friday as Brent crude rose by approximately 2 percent to reach 117.14 dollars per barrel. Concurrently, US West Texas Intermediate crude recorded a 1.9 percent increase, settling at 103.94 dollars per barrel.
Reuters reported that these price fluctuations occurred amid growing apprehension over potential US military actions against Iran following the midterm elections scheduled for November 3. These concerns were further compounded by an attack on an oil tanker in the Strait of Hormuz, which intensified security worries regarding energy transit routes across the Persian Gulf.
Energy market experts noted that ongoing military maneuvers near the Strait of Hormuz and ambiguities surrounding diplomatic resolutions between Tehran and Washington have left traders anxious about potential supply disruptions in the coming weeks. Furthermore, statements from Yemeni armed forces regarding strikes on Saudi oil facilities—including the Ras Tanura refinery and Abqaiq installations—alongside reports from the Riyadh-led coalition intercepting a cruise missile, have injected fresh anxiety into regional energy infrastructure safety.
Reflecting these market dynamics, Brent crude is on track to record a monthly gain of nearly 13 percent in October, while US crude is poised to finish the month with an increase of approximately 15 percent. Analysts at Saxo Bank have warned that given persistent geopolitical tensions and the necessity to rebuild hydrocarbon reserves, oil prices are likely to remain elevated well above pre-conflict averages even if hostilities cease.
The broader market volatility follows the military actions initiated by the United States and the Israeli regime against Iranian territory in late February 2026. The enduring consequences of these developments, particularly regarding the security of the Strait of Hormuz and energy logistics, continue to exert a direct influence on the global economy and oil markets.
