Brent crude tops $117 after Iran threatens Gulf oil and data targets
Brent crude rose about 3.5% on Friday to pass $117 a barrel, its highest since April, after Tehran threatened Gulf oil and data facilities.
What you need to know
The Guardian reports Brent crude rose about 3.5% on Friday to pass $117 a barrel, its highest since April, then eased to just over $116, about 2.7% up. The move followed Tehran's threat to attack Gulf oil facilities, undersea cables and datacentres if a new US-Israeli offensive is launched against Iran.
- Brent crude passed $117 a barrel on Friday, its highest since April, before easing to just over $116.
- Tehran said it would hit Gulf oil facilities, undersea cables, datacentres and AI facilities if a new US-Israeli offensive was launched.
- The Guardian reported that Brent traded near $72 in February, before the Iran war began.
Price move and triggers
Brent crude, the international oil benchmark, rose about 3.5% on Friday to pass $117 a barrel at one point, the highest since April, The Guardian reported. It later eased to just over $116, up about 2.7%.
The increase followed Tehran's statement that it would attack oil facilities, undersea cables, datacentres and AI facilities in the Gulf if a new US-Israeli offensive was launched against Iran. The Guardian also cited reports that Washington is weighing renewed military strikes after the 3 November midterms.
Broader supply concerns
The Guardian reported that Iran's Islamic Revolutionary Guards Corps claimed to have struck four commercial ships in the Strait of Hormuz on Wednesday. The US State Department ordered some diplomats and the families of government employees to leave Saudi Arabia, which has faced continued attacks from Houthi rebels in Yemen.
Analysts cited by The Guardian said Ukraine's bombardment of Russian diesel refineries was adding to supply worries. Brent traded at about $72 a barrel in February before the Iran war began and touched $126 by the end of April, the report said.
How high did Brent crude go on Friday?
The Guardian reported Brent rose about 3.5% to pass $117 a barrel, its highest since April, before easing to just over $116, about 2.7% up on the day.
Sources & context
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