Oil Hits 1-Month High as Next Week’s Midterms Set Up an Iran Test

WTI touched $106.2 per barrel Friday, its highest intraday level since mid-September, after Iran said mines hit four tankers and the U.S. said it had cleared Hormuz lanes. Brent traded near $111.9, up 9.4% from a month earlier, according to BeInCrypto. Traders are watching the November 3 U.S. midterms, after which renewed strikes on Iran are reportedly under consideration; CENTCOM chief Adm. Brad Cooper presented military options to Trump, who could still reject action. Iran-backed Houthis also claimed six attacks on Saudi airports and oil sites, including Ras Tanura. Polymarket put the ceasefire’s chance of holding through November 3 at 83%; Brent hit $117.42 on October 23.