Oil tops $114 on Hormuz tanker hits and Iran escalation fears: Oct 31, 2026
Brent crude rose by nearly 2.5% on ICE and topped $114, near six-month highs, as traders braced for escalation around Iran after the US midterms. Reports pointed to new attacks on tankers in the Strait of Hormuz while Trump weighs military options against Iran. Banks see elevated prices extending into 2027 as supply risks deepen.
Updated
This day is still open. Its readings are published once it closes. The live reading is on the Brent page.
Headlines (8)
Carried over from earlier days
- Brent January Futs Hit New Highs As Oil Market Braces For Post-Midterm Gulf EscalationZeroHedge
- Brent crude price rises by nearly 2.5% on ICE exchangeTASS
- Oil rises near 6-mth high as Trump weighs military options against IranHellenic Shipping News
- WTI Oil holds above $103.00, near five-month highs amid new attacks in the Strait of HormuzFXStreet
- Futures Slide As AI Reckoning Claims Amazon, Intel; Oil Jumps On Hormuz Tanker HitsZeroHedge
- Oil Traders Brace for a Wild Week as Brent Approaches $120OilPrice.com
- Oil tops $114 as traders brace for Iran escalation after US midtermsal-monitor.com
- Banks see elevated oil prices extending into 2027 as supply risks deepenoilandgas360.com
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Saturday, October 31 | ||
| Manufacturing PMI | 49.9 | CNY |
| Non-Manufacturing PMI | 50.0 | CNY |
| Sunday, November 1 | ||
| Manufacturing PMI | CNY | |
| Non-Manufacturing PMI | CNY | |
| Daylight Saving Time Shift | USD | |
| Daylight Saving Time Shift | CAD | |
| FOMC Financial Stability Report | USD | |
| Monday, November 2 | ||
| RatingDog Manufacturing PMI | 52.0 | CNY |