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Oil prices jump to five-month high as attacks threaten global supply

The Guardian Australia - World · 22 October 2026 at 10:28 pm

Oil prices jump to five-month high as attacks threaten global supply

Iran’s IRGC says it hit four vessels in the northern Gulf and three more struck mines near the strait of Hormuz Shipping workers: how is the Middle East conflict affecting you? Business live – latest updates Oil prices jumped to a five-month high on Thursday after attacks in Saudi Arabia and hits to tankers in the strait of Hormuz threatened further disruptions to the world’s crude supply.

Brent crude, the international benchmark for oil prices, rose by 3% to hit $112 a barrel for first time since 18 May.

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Oil prices jump to five-month high as attacks threaten global supply

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