{
  "id": 17433935,
  "title": "Oil jumps 2%, settles at 6-month high on fears of Iran war escalation",
  "url": "https://urgent.news/2026/10/30/oil-jumps-2-settles-at-6-month-high-on-fears-of-iran-war-escalation",
  "topic": "world",
  "section": "World",
  "published": "2026-10-30T21:00:00.000Z",
  "source": {
    "name": "Gulf Times Business",
    "slug": "gulf-times-business",
    "url": "https://www.gulf-times.com/article/737152/business/oil-jumps-2-settles-at-6-month-high-on-fears-of-iran-war-escalation"
  },
  "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 possible escalation in the Iran war following the US midterm elections. An attack on a tanker in the Strait of Hormuz, which serves as the vital sea route for Gulf crude, added to supply concerns. Brent crude futures closed at $117.64 a barrel, while US WTI crude settled at $104.12 a barrel. Week-over-week, Brent rose 0.8% and WTI increased by the same margin.\n\nOn Friday, a tanker in the Strait of Hormuz was targeted by explosive devices attached by a small boat. The perpetrator remains unidentified, and the Strait, crucial for Gulf crude transportation, is the primary sea outlet. The US advised non-emergency government employees and their families to depart Saudi Arabia effective October 23 due to escalating safety risks, citing Houthi attacks on civilian airports and critical infrastructure.\n\nAsian spot liquefied natural gas (LNG) prices climbed to a new multi-year high for a fourth consecutive week, driven by persistent geopolitical tensions in the Middle East and robust buying interest in Asia, alongside expectations of heightened winter demand. The average LNG price for December delivery to northeast Asia jumped from $30.50 per mmBtu to $32.50 per mmBtu. However, subdued demand in northeast Asia and indications of increasing Qatari LNG supplies somewhat capped further gains.\n\nIn Europe, the Dutch TTF gas price ended at $33.97 per mmBtu, marking a 10.7% weekly increase. Cold weather forecasts in Asia and Europe spurred winter demand, intensifying competition for LNG cargoes. Uncertainty surrounding the length of the cold spell, coupled with ongoing geopolitical tensions, contributed to market volatility.",
  "summary": "OilOil prices jumped more than 2% 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 US midterm elections, wit...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 10,
    "also_reported_by": [
      {
        "outlet": "Middle East Eye",
        "title": "Mojtaba Khamenei issues ‘important and strategic orders’ to Iran’s military",
        "url": "https://urgent.news/2026/10/31/mojtaba-khamenei-issues-important-and-strategic-orders-to-irans",
        "published": "2026-10-31T10:28:25.000Z"
      },
      {
        "outlet": "Ajel English",
        "title": "Iran's supreme leader urges military to respond to threats without geographic limits",
        "url": "https://urgent.news/2026/10/31/irans-supreme-leader-urges-military-to-respond-to-threats-without",
        "published": "2026-10-31T10:48:44.000Z"
      },
      {
        "outlet": "Haaretz",
        "title": "Iran's Khamenei meets military brass as U.S. said to plot post-midterm strikes",
        "url": "https://urgent.news/2026/10/31/irans-khamenei-meets-military-brass-as-u-s-said-to-plot-post-midterm",
        "published": "2026-10-31T11:14:49.000Z"
      },
      {
        "outlet": "Hindustan Times - World News",
        "title": "Iran's Khamenei warns US and Israel against fresh attacks, orders 'unrestricted' military response to threats",
        "url": "https://urgent.news/2026/10/31/irans-khamenei-warns-us-and-israel-against-fresh-attacks-orders",
        "published": "2026-10-31T12:32:06.000Z"
      },
      {
        "outlet": "The Times of Israel",
        "title": "Khamenei said to order military response without ‘geographic limits’ if US, Israel attacks",
        "url": "https://urgent.news/2026/10/31/khamenei-said-to-order-military-response-without-geographic-limits-if",
        "published": "2026-10-31T14:20:58.000Z"
      },
      {
        "outlet": "The Indian Express",
        "title": "Iran’s Mojtaba Khamenei orders military response ‘without geographic limits’ amid fears of renewed war",
        "url": "https://urgent.news/2026/10/31/irans-mojtaba-khamenei-orders-military-response-without-geographic",
        "published": "2026-10-31T14:38:50.000Z"
      },
      {
        "outlet": "Jerusalem Post",
        "title": "Israel prepares for possible Iran escalation as US delays military action until after midterms",
        "url": "https://urgent.news/2026/10/31/israel-prepares-for-possible-iran-escalation-as-us-delays-military",
        "published": "2026-10-31T14:49:47.000Z"
      },
      {
        "outlet": "Daily Times",
        "title": "Mojtaba Khamenei warns of response to any new attack",
        "url": "https://urgent.news/2026/10/31/mojtaba-khamenei-warns-of-response-to-any-new-attack",
        "published": "2026-10-31T15:04:22.000Z"
      },
      {
        "outlet": "France 24",
        "title": "Iran's Khamenei warns US and Israel against new attacks",
        "url": "https://urgent.news/2026/10/31/irans-khamenei-warns-us-and-israel-against-new-attacks",
        "published": "2026-10-31T17:00:36.000Z"
      }
    ]
  },
  "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."
}