Oil Climbs on Threats of a Widening War in Middle East

Bloomberg Markets Friday 23 October 2026, 10:58 UTC 1 min read

Key Points

Oct 23rd, 2026 Oil Climbs on Threats of a Widening War in Middle East Brent oil traded at the highest level since May on Friday. Iran-backed Houthi militants claimed recent attacks on the Saudi Red Sea port of Yanbu, as well as deadly strikes on an oil field and airport in the kingdom. The flareup threatens to widen hostilities around the Strait of Hormuz, where crude exports have recovered to near prewar levels.

Widening War (EVENT) Middle East (LOCATION) 2026 Oil Climbs on Threats of a Widening War (EVENT) Middle East Brent (LOCATION) Iran (LOCATION) Houthi (ORG) Saudi (ORG) Red Sea (LOCATION) Yanbu (LOCATION) the Strait of Hormuz (LOCATION) Abeer Abu Omar (PERSON) Bloomberg Television (ORG)

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Oil Climbs on Threats of a Widening War in Middle East

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