Brent crude rises 3% to $112, a five-month high, on Gulf attacks
Oil hit its highest price since 18 May on Thursday after attacks in Saudi Arabia and on tankers near the strait of Hormuz, and CNBC reports the U.S. may resume strikes on Iran.
Oil prices rose to a five-month high on Thursday. Brent crude, the international benchmark, gained 3% to reach $112 a barrel. The Guardian reports it is the first time Brent has been that high since 18 May.
The Guardian links the rise to attacks in Saudi Arabia and strikes on tankers in the strait of Hormuz. It says these threaten further disruption to global crude supply.
Iran's Islamic Revolutionary Guard Corps (IRGC) says it struck four vessels in the northern Gulf, according to the Guardian. The IRGC also says three other vessels hit mines near the strait of Hormuz.
CNBC reports that the U.S. is planning to resume strikes against Iran. Its headline says the U.S. and Israel are weighing new strikes. CNBC describes the reports as unconfirmed and says the conflict could flare up again.
Reported by
- CNBCOil prices jump on Middle East worries as U.S., Israel reportedly weigh fresh Iran strikesThu, Oct 22, 1:12 AM EDT
- The GuardianOil prices jump to five-month high as attacks threaten global supplyThu, Oct 22, 7:28 AM EDT
This story was written by AI using only the reports listed above, and published without a person reviewing it first. It is rewritten as new reports arrive. Read the original reporting for full detail. Spot an error? Tell us.