World·Energy
Oil settles at a six-month high as traders brace for possible escalation with Iran after the midterms; Brent ends October up 13.6%
Brent crude for December settled up $2.76, or 2.4%, at $117.64 a barrel on Friday, its highest since the end of April, while U.S. West Texas Intermediate settled at $104.12, Reuters reported via CNA. Brent finished the month 13.6% higher and WTI 15.2% higher, as traders braced for a potential escalation in the Iran war after the Nov. 3 U.S. midterm elections. ExxonMobil said its third-quarter profit more than doubled to $15.4 billion on higher oil prices and refining margins, CBS News and AFP reported.
Sources
- CNA (Reuters)Oil jumps 2%, settles at 6-month highs on fears of escalation in Iran
- CBS News (with AFP)Iran War Updates: ExxonMobil profits double to $15.4 billion on oil price surge