{
  "id": 17282828,
  "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-17282828",
  "topic": "world",
  "section": "World",
  "published": "2026-10-30T20:27:02.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times-koreatimes",
    "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 nearly 2% on Friday, reaching their highest levels since late April, as traders anticipated possible conflict escalation in the Iran war following the U.S. midterm elections. An attack on a tanker in the Strait of Hormuz underscored supply risks. Brent crude futures for December, which concluded on Friday, climbed $2.76, or 2.4%, to $117.64 per barrel, peaking at $118. The January contract saw a $2.63 increase, now at $113.43. U.S. West Texas Intermediate (WTI) crude futures rose $2.12, or 2.08%, to $104.12. Over the month, Brent increased 13.6%, while WTI rose 15.2%. Dennis Kissler, BOK Financial's senior vice president of trading, noted that traders will closely monitor oil exports from the Middle East and potential U.S. and allied military actions. On Friday, a tanker in the Strait of Hormuz was struck by explosive devices launched by a small boat. The UK Maritime Trade Organization, the British maritime security service, reported the incident, but the perpetrator remained unidentified. The strait serves as the primary sea route for Gulf oil exports.",
  "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."
}