Oil Prices Hover Near $115 Amid Iran-Saudi Tensions and US Midterm Outlook
OilPrice. com reported that on 27 October Brent hovered near $115 per barrel amid rising maritime attacks in the Strait of Hormuz, renewed Saudi-Houthi hostilities and anticipation of the U. S. midterm elections, while OPEC+ was expected to keep output targets unchanged. On 22 October the United States ordered diplomats and their families to leave Saudi missions after recent Houthi attacks, which Reuters said pushed Brent and U. S. crude futures higher. The Star later noted that prices fell on after a brief rally to near six-month highs as attacks on Saudi facilities continued. CNBC reported that West Texas Intermediate and Brent futures then slipped more than 2 % amid worries about further attacks and weakening demand. Crude Oil Prices Today observed Brent fell to $114. 42 and WTI to $100.
97 as tanker attacks in the Strait of Hormuz and Houthi strikes kept supply concerns high. Reuters subsequently said Brent eased to $115. 15 as diplomatic talks aimed at de-escalating the U. S. –Israel–Iran conflict eased concerns, though renewed Houthi attacks kept nerves high. The latest Crude Oil Prices Today note showed Brent slipping to $114. 85 and WTI to $100. 87 as hopes for Middle-East peace grew, while the threat of a U. S. strike on Iran persisted.
