Oil prices jump to five-month high as attacks in Saudi Arabia and Strait of Hormuz threaten global supply

Summary

Oil prices rose to a five-month high on Thursday as attacks in Saudi Arabia and hits to tankers in the Strait of Hormuz threatened further disruption to the world's crude supply. The Guardian reports that Brent crude, the international benchmark, rose 3% to $112 a barrel, its first time at that level since 18 May. It says Iran's IRGC claims it hit four vessels in the northern Gulf and that three more struck mines near the strait. Hindustan Times reports that Brent reached its highest level since May as Houthi attacks in Saudi Arabia, tensions around the Strait of Hormuz and oil supply disruptions fuelled global supply fears.

Timeline

1. Hindustan Times

   22 Oct 2026, 10:36 UTCSource ↗

   Reports that Brent crude hit its highest level since May as Houthi attacks in Saudi Arabia, Strait of Hormuz tensions and oil supply disruptions fuelled global supply fears.

2. The Guardian

   22 Oct 2026, 11:28 UTCSource ↗

   Reports that oil prices jumped to a five-month high after attacks in Saudi Arabia and hits to tankers in the Strait of Hormuz threatened further disruption, with Brent up 3% to $112 a barrel, its first time there since 18 May.