Oil rose as a flare-up in attacks in the Middle East increased uncertainty over a recovery in energy flows from the Persian Gulf.
West Texas Intermediate advanced toward US$95 a barrel, after edging higher in the previous session, while Brent declined to close below US$106.
The US said it assisted in shipping more than 19 million barrels of crude through the Strait of Hormuz, even as an escalation of Iranian attacks on tankers in the waterway threatens the recent rebound in Gulf supply to near prewar levels.
Elsewhere in the region, Saudi Arabia intercepted more missiles and drones launched by Yemen’s Houthis, as fighting with the Iran-backed militant group showed few signs of subsiding.
The headquarters of oil giant Saudi Aramco in the east of the kingdom was hit in the latest attacks.
Brent has surged more than 70% in 2026 as the US-Iran war roils energy markets.
Risks have intensified as Iran-backed Houthis attacked Riyadh’s main airport earlier in October and Saudi-backed forces launched a campaign to reclaim rebel-held territory in Yemen.
Tanker strikes in Hormuz have also prompted more supertankers to turn away from the Persian Gulf.
“While the day-to-day headlines constantly move, the overarching picture in the Persian Gulf has been little changed throughout the past three months,” said Pavel Molchanov, an analyst at Raymond James.
Tanker companies are becoming more adept at moving crude between vessels at sea to keep exports flowing, while reducing exposure to Iranian attacks, he said. BLOOMBERG
