Tanker Burns After Strike in Strait of Hormuz
The Gulf carries about a fifth of the world's oil. Any threat to those flows means less supply, which pushes oil up.
Effect: right now
Brent $97.97 when this landed Read at The Maritime Executive
What moved Brent oil on Sunday 8 November 2026
The week ahead
- US core inflation (CPI) Expected 0.2%
- US inflation (CPI), monthly Expected 0.3%
- US oil stocks report (EIA)
Iran Suggests Blasts Are Not US Attacks As Both Sides Report Ships Hit
Fighting in the Gulf puts oil supply at risk, so traders pay more for oil now.
Effect: right now
Iran says 3 tankers caught fire in Hormuz
The Gulf carries about a fifth of the world's oil. Any threat to those flows means less supply, which pushes oil up.
Effect: right now
Brent $97.97 when this landed Read at Arab News
Thick smoke at Tehran refinery caused by safety flaring, no fire reported
An outage takes oil off the market, even if only for a while, and less supply usually lifts the price.
Effect: right now
Brent $97.97 when this landed Read at Arab News
US military attacks cargo ship in the Gulf of Oman
Fighting in the Gulf puts oil supply at risk, so traders pay more for oil now.
Effect: right now
Iran says it has lifted its self-imposed limit on missile ranges
Fighting in the Gulf puts oil supply at risk, so traders pay more for oil now.
Effect: right now
Brent $97.97 when this landed Read at Arab News