Oil prices rose Wednesday as an attack on Saudi Arabia’s Ras Tanura refinery heightened concerns about disruptions to global supplies amid escalating Middle East tensions.
President Donald Trump said the Iran war would end on his terms, reiterating that Tehran must not acquire nuclear weapons. He has indicated that he is weighing negotiations with Iran against further military action, leaving traders uncertain about the conflict’s trajectory.
Oil markets have maintained a geopolitical risk premium amid concerns over supply disruptions. Political uncertainty in Israel has added to the pressure.
Preliminary exit polls showed neither Prime Minister Benjamin Netanyahu nor challenger Gadi Eisenkot securing a clear parliamentary majority, potentially complicating Israel’s approach toward Iran.
Related Tweet:
🚨 NOW: Oil prices dip from near six-month highs, with US crude futures down 2% to $101 and Brent futures at $114, as Houthi attacks on Saudi Arabia keep supply fears alive. https://t.co/5ZHWi5vJNK
— Cointelegraph (@Cointelegraph) October 26, 2026
Also Read:
TIPP Staff
