[International Oil Prices] Rise More Than 2% Amid Fears of Escalation in Iran War

[Financial News]  

International oil prices jumped more than 2% on the 30th (local time).
Concerns that U.S. President Donald Trump would join Israeli Prime Minister Benjamin Netanyahu in resuming airstrikes on Iran after the midterm elections on November 3 pushed oil prices higher.
December Brent crude futures, the benchmark grade for international oil prices, closed at $117.64 a barrel, up 2.4% from the previous session. They briefly reached $118 a barrel during the session.
The price of Brent crude for January delivery next year, which will become the benchmark for the nearby contract starting on the 2nd of next month, rose $2.63 to close at $113.43 a barrel.
The December contract for West Texas Intermediate (WTI), the U.S. oil benchmark, also rose 2.08% to close at $104.12 a barrel.
Brent crude and WTI each climbed to their highest levels since late April.
In October, Brent crude surged 13.6%, while WTI jumped 15.2%.
A tanker was also reported hit that day in the Strait of Hormuz, a key oil shipping route controlled by Iran.
The UK Maritime Trade Operations (UKTMO), a maritime safety agency under the Royal Navy, said that a tanker was hit by explosives attached to a small boat in the Strait of Hormuz that day. Those behind the attack and other details were not immediately known. This was the first successful attack using explosives attached to a small boat since the Iran war began on February 28.

[email protected] Song Kyung-jae Reporter