Business

Oil Prices Reach New Highs Amidst Iran War Concerns

Updated 2026-10-23 15:20 UTC 1 source Negative

Oil prices have reached their highest point since May, driven by ongoing tensions in the Middle East. The war in Iran is causing significant volatility in global markets.

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The Hill
Oil prices on Friday hit their highest point since May as the war in Iran drags on. As of Friday morning, futures for international benchmark Brent crude were trading at $116 per barrel, while U.S benchmark West Texas Intermediate traded at about $102. The high prices come as the war in Iran nears t
2026-10-23 14:58 UTC
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