22-Oct-2026 13:57:03
Brent Crude Jumps 3% to $112.50, Highest Since May, on Middle East Supply Fears
Brent crude surged around 3% to $112.50 per barrel, its highest level since May, as escalating Middle East tensions heightened fears of global oil supply disruptions. Renewed Houthi attacks on Saudi Arabia, including energy infrastructure, raised concerns over potential damage to production and export routes. US-Iran tensions and attacks on vessels further increased geopolitical risks. Falling US crude inventories also supported prices, reinforcing concerns about tightening supplies. Higher oil prices could increase inflationary pressure and hurt oil-importing economies like India.