Canada Commodities: Oil Prices Jump on Reports of Potential US-Israeli Military Action Against Iran

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• Oil prices rise as Houthi attacks on Saudi Arabian refinery raise supply worries

  Oil prices rose on Wednesday as investors weighed a possibly prolonged and widening Middle East conflict after Tehran-backed Houthis attacked Saudi Arabia's largest refinery, Ras Tanura, with a ballistic missile. Brent rose $1.50, or 1.32%, to $115.59 a barrel, while WTI gained $1.47, or 1.47%, to $101.37. President Trump said the war with Iran would end on his terms and that Tehran must be prevented from acquiring nuclear weapons. Israel's election also appeared headed for a stalemate, as preliminary exit polls showed neither bloc reaching the 61 seats needed in the 120-seat parliament.

  CNBC·28/10, 05:52▲ PVD▼ PLX▲ PVT▲ XAU/USDoil pricesIranSaudi Arabia
• Oil Prices Fall More Than 2%

  US crude (WTI) fell 2.19% to $101 a barrel and Brent fell 1.89% to $114.51 as of 13:00 Vietnam time on Oct. 26, after a sharp rise on Oct. 23 when Houthi attacks on Saudi Arabia revived supply concerns. The Houthis said they targeted Riyadh's main airport and Saudi oil facilities over the weekend, and Saudi authorities said they intercepted more missiles and drones on Sunday. Michael Alfaro of Gallo Partners estimated geopolitical tensions added about $20 per barrel and said Brent above $120, $130 or $140 could weaken demand more sharply. Damage to refining infrastructure could create a structural challenge extending into 2027, while the US Department of Energy approved releasing up to 400,000 barrels from the Strategic Petroleum Reserve to address a supply disruption at a Louisiana refinery.

  Vietstock·26/10, 07:12▼ PVD▼ PVT▲ PLXoil pricesSaudi Arabiageopolitics
• Commodity Corner : Oil rises on Middle East tensions ; gold slipsmoneycontrol.com·22/10, 04:45▼ PAXG/USDT▼ XAUT/USDT▼ XAU/USDcommoditiesoil pricesgold
• Global oil prices hit highest level in 5 months amid attacks on ships , facilities

  Brent crude topped $111 a barrel for the first time since May before easing to $110.30, a rise of more than 55% since the Iran war began in late February. The rally followed claims by Iran and its Houthi allies of attacks on oil infrastructure, including Houthi strikes on Saudi Arabia's Shaybah oil field and Saudi Aramco facilities in Yanbu, plus an IRGC claim that two tankers hit naval mines south of the Strait of Hormuz. The UKMTO issued an advisory after an incident involving a tanker and military forces off Oman. West Texas Intermediate rose to $105.75, more than 60% higher since the war began, and US gasoline averaged $4.27 a gallon per AAA, nearly $1.30 above late February levels. The rise comes as affordability becomes a key voter concern ahead of the November midterm elections, after a tentative US-Iran accord expired in August.

  abc7news.com·20/10, 21:00▼ SPY▲ DXY▲ XAU/USDoil pricesgeopoliticsshipping
• Global oil prices hit highest level in 5 months amid attacks on ships , facilitieskxel.com·20/10, 20:45▼ VNINDEX▲ XAU/USD▲ PAXG/USDT▲ PVDoil pricesgeopoliticsshipping
• Global oil prices hit highest level in 5 months amid attacks on ships , facilities

  Brent crude futures topped $111 a barrel for the first time since May before easing to $110.30, a rise of more than 55% since the Iran war began in late February. Iran and its Houthi allies claimed attacks on Middle East oil infrastructure, including the Shaybah oil field and Saudi Aramco facilities in Yanbu, while Iranian state media reported that the IRGC said two tankers hit naval mines south of the Strait of Hormuz. The UKMTO issued an advisory after a report of an incident involving a tanker and military forces off Oman. U.S. benchmark WTI rose to $105.75, up more than 60%, and the average U.S. gas price reached $4.27 a gallon, nearly $1.30 higher since late February. Affordability is a major voter concern ahead of the early-November midterm elections.

  abc30.com·20/10, 18:45▼ VNINDEX▲ XAU/USD▲ PAXG/USDT▲ XAUT/USDToil pricesgeopoliticscommodities

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