empty
 
 

2026.10.2215:16:02UTC+00Crude Oil Rises to 5-Week High

Crude oil climbed above $98 a barrel on Thursday, its highest level in five weeks, amid mounting fears that the conflict in the Middle East could intensify as the United States reportedly prepares to resume strikes against Iran. According to reports, US and Israeli military officials have drawn up plans for a renewed campaign to begin after next month’s US midterm elections, with preparations underway for a short but highly intensive operation.

President Donald Trump stated that Washington is not engaged in negotiations with Tehran and hinted that new developments could unfold soon, potentially following the elections. In a further sign of rising tensions, the US ordered the departure of non-emergency government personnel and their families from Saudi Arabia, citing an escalation in attacks by Iran-aligned Houthi forces on civilian targets.

Despite the deteriorating security backdrop, crude exports through the Strait of Hormuz have recovered to near pre-conflict volumes, with some tankers reportedly switching off their tracking transponders to avoid detection. However, shipments of refined oil products remain restricted and have yet to show a similar rebound.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In October we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback