{
  "id": 17279117,
  "title": "Oil jumps 2%, settles at 6-month highs on fears of escalation in Iran",
  "url": "https://urgent.news/2026/10/30/oil-jumps-2-settles-at-6-month-highs-on-fears-of-escalation-in-iran-17279117",
  "topic": "world",
  "section": "World",
  "published": "2026-10-30T19:52:04.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times",
    "url": "https://www.koreatimes.co.kr/world/20261031/oil-jumps-2-settles-at-6-month-highs-on-fears-of-escalation-in-iran"
  },
  "original_language": "en",
  "account": "Oil prices surged more than 2% on Friday, reaching their highest levels since the end of April, as traders anticipated a potential escalation in the Iran conflict following the U.S. midterm elections. The incident was further fueled by an attack on a tanker in the Strait of Hormuz, which heightened concerns about supply risks. Brent crude futures for December, which expired on Friday, rose $2.76, or 2.4%, to $117.64 per barrel, following a peak of $118. Meanwhile, the more actively traded January contract increased by $2.63 to reach $113.43. U.S. West Texas Intermediate (WTI) crude futures also climbed $2.12, or 2.08%, to $104.12. Over the course of the month, Brent finished 13.6% higher, while WTI gained 15.2%. Dennis Kissler, senior vice president of trading at BOK Financial, noted that traders would continue to monitor oil flows from the Middle East and the likelihood of a possible intensification of U.S. and allied military actions. On Friday, a tanker in the Strait of Hormuz was struck by explosive devices attached by a small boat, though the perpetrator of the attack remained unidentified. The Strait of Hormuz serves as the critical sea passage for global oil shipments from the Gulf region.",
  "summary": "Oil prices jumped more than 2 percent on Friday and settled at their highest levels since the end of April, as traders braced for a potential escalation in the Iran war after the U.S. midterm elections, with an attack on a tanker in the Strait of Hormuz highlighting supply risks. Brent crude futures for December, which expired on Friday, settled up $2.76, or 2.4 percent, at $117.64 a barrel,…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "CNA - Business",
        "title": "Oil jumps 2%, settles at 6-month highs on fears of escalation in Iran",
        "url": "https://urgent.news/2026/10/30/oil-jumps-2-settles-at-6-month-highs-on-fears-of-escalation-in-iran",
        "published": "2026-10-30T19:26:29.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}