International crude oil prices surged past $115 per barrel in early trading on Friday, October 30, 2026, driven by new Houthi rebel strikes targeting Saudi Arabia's energy infrastructure and escalating maritime conflicts surrounding the critical Strait of Hormuz chokepoint.
According to a report by British news agency Reuters, benchmark Brent Crude rose by 86 cents (0.75%) to reach $115.74 per barrel at 01:22 GMT on Friday. Simultaneously, U.S. West Texas Intermediate (WTI) crude gained 72 cents (0.71%) to settle at $102.72 per barrel. This sharp upward rally marks the fourth consecutive month of price increases in global energy markets, with October gains projected at nearly 14% for Brent Crude and 15% for WTI.
Read nextHelicopter Carrying 6 Crashes Near Joshimath, Confirms Uttarakhand CM Pushkar Singh DhamiThe price surge follows claims by Yemen's Houthi rebels that they executed coordinated strikes targeting vital Saudi Aramco processing and refining assets, including the Ras Tanura and Rabigh refineries alongside the pivotal Abqaiq processing facility. Compounding supply panic, Iran's Islamic Revolutionary Guard Corps (IRGC) claimed that three oil tankers struck maritime mines and caught fire while traversing an unauthorized southern route through the Strait of Hormuz—a crucial maritime corridor responsible for roughly a fifth of global petroleum supply—further heightening fears of sustained global energy disruption.
— Daily Best News Desk • Fearless in the search for truth
Reported by International Desk • Edited by the Daily Best News desk. Send corrections to [email protected].
