World
Fresh US Strikes On Iran Soon? Brent Crude Hits 6-Month High At $116
By: News18 World
Published: 24 October 2026
Photo / Illustration: Haldwani Times News Desk
<p>Brent crude oil prices climbed to a six-month high as concerns grew that the United States could resume strikes on Iran in the coming weeks, raising fears of further disruption to global energy supplies. Brent crude futures rose 3.1 per cent to settle at $116.72 a barrel, marking the highest settlement for the international benchmark since April 29. US West Texas Intermediate (WTI) crude gained 3.8 per cent to close at $103.27 a barrel.</p>
<p>For the week, Brent advanced 6.2 per cent, marking its third consecutive week of gains, while WTI rose 2 per cent. The rally came amid escalating tensions in West Asia, with uncertainty over Washington’s next move against Tehran adding to concerns about the security of oil supplies from the region.</p>
<p>US President Donald Trump said on Wednesday that Washington was not negotiating with Iran and that something would happen “fairly soon".</p>
<p>But on Friday, Trump said he knew nothing about a possible strike on Iran this weekend, after US Ambassador to Turkey Tom Barrack said an attack was possible.</p>
<p>Iran Says Military Ready For ‘Asymmetric Warfare’</p>
<p>Iran’s army chief said the country’s military was fully prepared for “asymmetric warfare" after strengthening its capabilities, according to the state media agency Tasnim. The statement came as tensions between Tehran and Washington remained elevated, fuelling concerns that any fresh escalation could further disrupt energy markets.</p>
<p>Attacks In Saudi Arabia Raise Supply Concerns</p>
<p>Security concerns also intensified in Saudi Arabia following a series of attacks attributed to Iran-backed Houthi militants. A drone attack targeting the Shaybah oil field in Saudi Arabia’s Eastern Region on Wednesday left two people dead and two injured, according to Saudi state media. An attack on King Fahd International Airport in Dammam the same day killed at least two people and injured eight. The US State Department ordered non-essential personnel to leave Saudi Arabia amid the security situation.</p>
<p>Saudi Aramco instructed employees to evacuate its headquarters in Dhahran and work remotely following the attacks, Reuters reported. The developments added to concerns over the safety of energy infrastructure in the Gulf, a critical region for global oil production and exports.</p>
<p>Brent crude oil prices climbed 3.1 per cent to settle at $116.72 a barrel, reaching a six-month high due to escalating tensions in West Asia and growing concerns that the United States could resume strikes on Iran in the coming weeks.</p>
<p>US President Donald Trump stated on Wednesday that Washington was not negotiating with Iran and that something would happen fairly soon, though he later mentioned on Friday that he knew nothing about a possible strike over the weekend after US Ambassador to Turkey Tom Barrack suggested an attack was possible.</p>
<p>Security concerns intensified after Iran-backed Houthi militant attacks targeted Saudi Arabia, including a drone strike on the Shaybah oil field that left two people dead and two injured, and an attack on King Fahd International Airport in Dammam that killed two people and injured eight.</p>
