Brent crude oil prices rise to $113 amid ongoing maritime security threats in the Persian Gulf.

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Increased attacks on vessels in the Strait of Hormuz heighten shipping risks, potentially disrupting oil supply routes.

📌 Key developments

• Brent crude oil prices increased to $113 per barrel, reflecting market concerns over security in the Persian Gulf.
• At least 15 vessel attacks have been reported in the Strait of Hormuz since October 20, exacerbating fears of supply disruptions.
• Iran's crude oil exports remain at zero for October 2026 due to a US naval blockade.

💡 Why it matters

Rising oil prices indicate market sensitivity to geopolitical risks, which could influence global energy policies and economic stability.

👀 What to watch

• Further developments in maritime security incidents in the Strait of Hormuz.
• Potential responses from OPEC regarding production adjustments in light of rising prices.