Brent Climbs Above $105, Its Highest in Nearly a Month

Brent crude traded above $105 a barrel on Thursday, October 8, 2026 (16 Mehr 1405), its highest level in nearly a month. Sahmino's recorded price data show Brent at about $105.10 at 15:59 Tehran time, roughly 3.9 percent above the previous day, while West Texas Intermediate rose about 4.8 percent to $92.56. Trading Economics reports a daily gain of 4.84 percent and a one-month gain of 3.79 percent for Brent; the gap between the two readings reflects each source's reference contract. According to Al Jazeera, Brent had stood near $99.57 on Tuesday, October 6 (14 Mehr).

Trading Economics attributes the move to intensifying supply worries: reports that the White House asked the Pentagon to draw up strike options against Iran before the US midterm elections, escalating attacks on shipping in the Persian Gulf and the Strait of Hormuz, and stepped-up Houthi strikes on Saudi Arabia. It also cites output cuts by oil companies in the Gulf of Mexico ahead of an approaching tropical storm, saying about 25.1 percent of US Gulf of Mexico oil production was shut in as of Wednesday. For Iran, pricier crude affects export revenue and also lifts world prices for fuel and imported inputs.