# Brent crude hits $116, highest in 5 months

> US-Iran tensions and Saudi attacks push oil prices to 5-month high.
- Title: Brent crude hits $116, highest in 5 months · Financialexpress
- Summary: US-Iran tensions and Saudi attacks push oil prices to 5-month high. Brent crude reached $116 a barrel, highest in five months, due to US-Iran conflict fears…
- Keywords: brent crude, us-iran tensions, saudi arabia, oil prices, middle east conflict, shipping disruptions, oil supply, business, money, news, Brent, crude
- Source: Financialexpress — https://financialexpress.com/world-news/brent-crude-hits-116-highest-in-5-months-what-is-driving-the-rally-and-what-comes-next/4368325
- Author: Anjana PV
- Published: 2026-10-23T17:25:23+00:00
- Read time: 1 min
- Topics: brent crude, us-iran tensions, saudi arabia, oil prices, middle east conflict, shipping disruptions, oil supply, business, money, news
## Brent crude hits $116
Brent crude futures rose 2.6% to $116.13 a barrel on Friday, their highest level since April 30.
## US-Iran tensions drive rally
Rising tensions in the Middle East and fears of renewed US strikes against Iran raised concerns about global oil supplies.
## Houthi attacks on Saudi Arabia
Saudi Aramco ordered evacuation of Dhahran headquarters as Houthi militants intensified attacks on Saudi infrastructure.
## Shipping disruptions at Bab el-Mandeb
Clashes near Bab el-Mandeb threaten oil shipping routes, forcing vessels to change paths and raise freight costs.
## Oil spill in UAE
An oil spill was detected off Umm Al Quwain coast, with no identified cause or tanker involved.
## Price impact next week
Higher freight rates and shipping route changes could raise oil delivery costs if supply disruptions continue.
## What drives oil prices next?
Oil prices could rise further if US strikes against Iran escalate or attacks on Saudi Arabia continue.
## Market reaction
Brent futures on track for third consecutive weekly rise, with WTI gaining 3% to $102.56 a barrel.
## Key takeaway

Brent crude reached $116 a barrel, highest in five months, due to US-Iran conflict fears and shipping disruptions.