U.S. front-month WTI crude jumped 4.2% to around $107.50 a barrel in early trading, with November contracts on track for a ninth straight daily gain and a monthly rise of almost 20%. Brent for December delivery rose 1.9% to $111.42, its highest since May 19. Attacks on commercial ships in the Strait of Hormuz have escalated, with at least 18 vessels hit in two weeks according to Kpler. Iran's Revolutionary Guard said two 'non-compliant' tankers were set ablaze after hitting mines, and a Foreign Ministry spokesperson said Tehran would respond to any American strike 'in equal measure, if not more forcefully.' U.S. President Donald Trump said earlier this month that American forces will not attack Iran before the November 3 midterm elections.
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oil pricescommoditiesgeopoliticsMiddle East
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Related tickers and likely impact
XAU/USD
▲ Likely positiveRelevance: medium
| Market | Gold |
|---|---|
| Close on 10/19/2026 | 4,140.75 |
| Change that session | -0.60% |
DXY
▲ Likely positiveRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/19/2026 | 101.98 |
| Change that session | +0.20% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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