Brent crude oil prices rise to $113 amid heightened shipping risks in the Strait of Hormuz.

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Increased vessel attacks raise concerns over oil supply disruptions, impacting market stability.

📌 Key developments

• Brent crude oil prices increased to $113 per barrel, driven by fears of supply disruptions.
• Reports indicate at least 15 vessel attacks in the Strait of Hormuz since October 20, raising shipping risk.
• Iran's crude oil exports remain at zero for October 2026 due to a U.S. naval blockade.

💡 Why it matters

The rise in oil prices signals potential instability in global energy markets, particularly affecting buyers and exporters reliant on the Strait of Hormuz.

👀 What to watch

• Monitor further developments regarding vessel attacks in the Strait of Hormuz.
• Watch for any statements from OPEC regarding production adjustments in response to price fluctuations.