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Oil Prices Surge Amid Iran Attacks and Ukraine Threats

Updated 2026-10-16 19:40 UTC 1 source Negative

Brent oil prices reached $110 per barrel as Iran escalated attacks in the Strait of Hormuz. Ukraine has vowed to target Russian refineries, adding to regional tensions.

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CNBC

Brent oil touches $110 as Iran escalates Hormuz attacks, Ukraine vows to hit Russian refineries

U.S. crude oil prices rose sharply Friday as Iran escalated attacks in the Strait of Hormuz this week.

2026-10-16 19:33 UTC