
Oil jumps 4% on reports the US is preparing new Iran strike options
Brent topped $105 on reports the White House wants Pentagon plans to strike Iran before the Nov. 3 midterms. A tanker was also hit in the Gulf north of Qatar.
Day-by-day tracking of the war and its impact on oil prices

Brent topped $105 on reports the White House wants Pentagon plans to strike Iran before the Nov. 3 midterms. A tanker was also hit in the Gulf north of Qatar.

Aramco's Amin Nasser says close to 3 billion barrels never reached buyers, and restocking the world's thin oil stocks may need two years once Hormuz is open.

G7 nations will release 100 million barrels of oil and diesel over four months. Brent briefly fell below $99 but settled at $102.25 as doubts crept in.

Trump says a diesel export ban could push up gasoline prices. Diesel sits at $6.39 a gallon, and Goldman says a ban would backfire once storage tanks fill up.

November Brent trades about $7.50 above December ahead of Wednesday's expiry, up from under $1 in August. Saudi flows are rising but Iran talks have stalled.

Brent rose $3.34 to $107.66 and WTI climbed to $95.60 after Trump rejected Iran's seven-day Hormuz plan, saying Tehran had overplayed its hand in the talks.

Brent fell 2.1% to $104.32 and WTI slid to $92.41 after Iran's foreign minister offered to reopen the Strait of Hormuz in seven days if the US meets his terms.

Brent rose 4% to $107 after an adviser to Iran's supreme leader said the war could reach the Indian Ocean, as Houthi missiles targeted the Saudi port of Yanbu.

Brent has fallen from $108.75 on September 15 to near $100 after Saudi Arabia restarted its Hormuz bypass pipeline and US and Iranian envoys met in New York.