Brent crude touched 117.45 USD, with reports pointing to rising US-Iran risks

AT A GLANCE

The report said that Brent crude rose above 117 USD, with the market focused on an escalation in the US-Iran conflict and risks in the Strait of Hormuz.

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Brent crude oil since April first touched 117 USD, as US-Iran tensions reach a "tipping point"

BlockBeats reports that,October 24, amid continued tensions in the Middle East, international oil prices rose sharply on Friday. Brent crude reached an intraday high of 117.45 USD/barrel, marking April the first time since it broke above 117 USD, and ultimately closed at 116.72 USD, representing a monthly gain of more than 10%.

The rise in oil prices was mainly driven by expectations that the US-Iran conflict could escalate again. Trump suggested on Friday that the United States might launch another military strike against Iran, while also saying that the fighting could end quickly. According to reports, the US and Israeli militaries have drawn up plans to strike Iran again after the US November midterm elections, but Trump has not yet decided whether to approve them. Potential targets include Iran's missile and drone arsenals, energy infrastructure, and nuclear facilities.

Meanwhile, Iran's Islamic Revolutionary Guard Corps said that two supertankers struck mines in the Strait of Hormuz, carrying a combined total of more than 4500000 barrels of crude oil; the claim has yet to be independently verified. Reuters also reported that Iran had prepared plans to attack undersea communications cables in the Gulf region in response to a possible new round of US-Israeli attacks.

The energy shock is spreading to financial markets. The US 5-year breakeven inflation rate rose to 2.47%，10-year Treasury yield rose to 4.99%, while the S&P 500 index fell 0.5%on Friday. Analysts warned that if the conflict spirals out of control and causes severe damage to critical oil infrastructure, international oil prices could rise further toward 150 USD/barrel.

Original link https://m.theblockbeats.info/flash/373500

Key points

BlockBeats said that October 24 Brent crude reached an intraday high of 117.45 USD/barrel, marking April the first time since it broke above 117 USD。
Brent crude ultimately closed at 116.72 USD, with a monthly gain of more than 10%。
US 5-year breakeven inflation rate rose to 2.47%，10-year Treasury yield rose to 4.99%。
S&P 500 index fell on Friday by 0.5%。
Trump suggested on Friday that the United States might launch another military strike against Iran, while also saying that the fighting could end quickly.
Iran's Islamic Revolutionary Guard Corps said that two supertankers struck mines in the Strait of Hormuz, carrying a combined total of more than 4500000 barrels of crude oil; the claim has yet to be independently verified.
Reuters reported that Iran had prepared plans to attack undersea communications cables in the Gulf region.

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

This report describes the simultaneous movements in crude oil prices, inflation expectations, US Treasury yields, and US stocks as expectations of geopolitical conflict intensify. It identifies a possible escalation in the US-Iran conflict and potential transportation risks in the Strait of Hormuz as the market's core concerns, but notes that several military plans and reports of mine strikes remain insufficiently confirmed.

Why it matters to readers

Crude oil is a vital global energy source. Disruptions to transportation or energy facilities could affect inflation expectations, bond yields, and risk appetite in equity markets.

Beginners should distinguish between market price data that has already emerged and unverified conflict reports, and should not treat the 150 USD scenario proposed by analysts as a certain forecast.

Risks and unknowns

The claim that two supertankers struck mines remains subject to independent verification.
Trump has not yet decided whether to approve the reported plans for another strike.
It remains uncertain whether the United States and Israel will actually launch another round of attacks.
The material only provides a Reuters report on whether Iran has plans targeting undersea communications cables or will carry them out.
Whether oil prices will rise further toward 150 USD/barrel is merely a potential scenario proposed by analysts.
The material does not provide the direct price performance of BTC.

Brent crude touched 117.45 USD, with reports pointing to rising US-Iran risks

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