Brent crude climbed above $114 as traders weighed the risk of renewed U.S.-Iran hostilities and further attacks on Saudi energy infrastructure against recovering Middle East oil supplies. Financial Times Markets reported that oil reached $117 for the first time since April and that energy-price gains pushed U.S. inflation expectations higher.
WHO:Oil traders
WHAT:Brent crude prices rose as traders weighed Middle East risks and recovering oil supplies.
WHEN:Reported Oct 23, 2026 at 9:11 AM ET
WHERE:Middle East
WHY:Traders weighed the risk of renewed U.S.-Iran hostilities and further attacks on Saudi energy infrastructure, alongside recovering regional oil supplies.
How this story developed (showing 9 of 9 earlier reports)
