AramcoBusinessCommoditiesEnergy industryHouthisMiddle East and north AfricaOilSaudi ArabiaStock marketsStrait of Hormuz

Oil prices jump to five-month high as attacks threaten global supply

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This story was selected and curated by our editorial team in the Aramco category. Published on October 22, 2026 • Originally reported by Lauren Almeida. OMEGAZEPRIME provides independent news coverage and analysis for our readers. Stay informed with the latest developments.

Iran’s IRGC says it hit four vessels in the northern Gulf and three more struck mines near the strait of Hormuz

Oil prices jumped to a five-month high on Thursday after ​attacks in Saudi Arabia and hits to tankers in the strait of Hormuz threatened further disruptions to the world’s crude supply.

Brent crude, the international benchmark for oil prices, rose by 3% to hit $112 a barrel for first time since 18 May.

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