[Global Oil Prices] Brent Crude Tops $113; Trump Weighs Resuming Airstrikes on Iran

[Financial News]  

International oil prices surged on the 22nd (local time). Reports that US President Donald Trump was planning airstrikes on Iran after next month’s midterm elections triggered the jump.
Brent crude, the global oil benchmark, for December delivery closed up 4% from the previous session at $113.17 a barrel. That was its highest level since May 4.
US benchmark West Texas Intermediate crude (WTI) for December delivery closed up 2.4% at $99.47 a barrel.
The New York Times (NYT), citing anonymous US officials, reported that the United States and Israel had drawn up a special operation to strike Iran again after the US midterm elections on November 3. The officials said they were planning airstrikes that would be “short but intense.”
Trump said on the 21st that the United States was not negotiating with Iran and would respond to Iran “very soon, one way or another.” He added, “Most people seem to think it will be after the election. Let’s see what happens.”
Expectations that the United States was also preparing a military operation against Yemen’s Houthi rebels, who continue their attacks on Saudi Arabia, also added fuel to the rise in oil prices.
The United States ordered all nonessential government employees and their families to leave Saudi Arabia. However, State Department spokesperson Tommy Pigott said the order applied only to Saudi Arabia and denied reports that the United States had ordered its citizens to evacuate the Gulf region.

[email protected] Song Kyung-jae Reporter