WorldCrude Oil Prices TodayOil Markets Brace for a New Iran Escalation After U.S. Midterms
Oil prices are hovering near $115 a barrel as attacks on tankers in the Strait of Hormuz intensify ahead of the US midterm elections.
Brent holds near $115 as Iran war tensions and escalating Saudi-Houthi hostilities keep oil markets on edge ahead of U.S. midterms.
Escalating attacks on tankers in the Strait of Hormuz are keeping global oil markets on edge, with Brent crude holding near $115 a barrel.
More than 30 maritime incidents were recorded in October alone, up from 14 in September, with freight rates from the Gulf remaining sharply elevated.
With shipping costs high and attacks spreading beyond the Strait, global oil supply disruption risks are growing as the US midterms approach.
Freight costs from the Gulf are elevated, with a Saudi Arabia to China voyage costing around $33 per barrel, which can flow through to petrol prices at the bowser.
Five minutes for you
More from Cuppa
Russell Brand told police he led a ‘very promiscuous’ life, trial hearsRussell Brand's trial has heard his police statements in which he insisted all his sexual encounters were consensual and blamed allegations on defamatory media reports.
Co-ordinated cattle raids kill at least 72 people in South SudanAt least 72 people were killed in coordinated cattle raids in South Sudan's Warrap state, with homes burnt and an unspecified number of cattle stolen.
Quantum sensor loop design could improve magnetic measurements for medicine and communicationsAdelaide University researchers have found a simpler way to make ultra-sensitive magnetic sensors more accurate, which could improve brain imaging and medical diagnostics.
A dinosaur fossil that looks like a mini T. rex just sold for a giant $47 millionA rare Nanotyrannus dinosaur skeleton nicknamed Jodi sold at Sotheby's in New York for $47.3 million, far exceeding its $6-9 million estimate.
‘How on earth is this man not sweating?’ The director who spent 10 years painstakingly remastering Bowie’s ‘greatest filmed performance’Lost footage of David Bowie's legendary 1978 Earl's Court concerts has been painstakingly remastered and will debut in arenas in 2027.
Russell Brand told police he never had non-consensual sexRussell Brand's rape trial heard he told police four times between 2023 and 2025 that he had never engaged in non-consensual sexual activity.
Actress Susan Saint James dies aged 80American actress Susan Saint James, best known for McMillan and Wife and Kate and Allie, has died aged 80 after a cancer diagnosis.
Bottled water and tinned food sales surge after UK government issues emergency stockpile adviceUK shoppers rushed to buy tinned food, bottled water, torches and wind-up radios after the government told households to stockpile 72 hours of emergency supplies.
What readers are saying