Brent crude reached $116 per barrel, nearing its Iran-war peak amid fears of renewed fighting after the midterms, while US gasoline hit $4.29/gallon (up 40% year-over-year) and additional US fuel spending this year is estimated at $142 billion.

Bloomberg10/23, 10:08 PM

Market impact

Event risk

Which way this story pushes each asset. An inference from the story, not a measured move.

WTI
Would push up
DaysLow confidence
Fear of renewed Iran conflict after the midterms raises a geopolitical risk premium on crude.
Brent
Would push up
DaysLow confidence
Brent is nearing its Iran-war peak on the same renewed conflict fears.

What could change this

If fighting does not actually resume, the risk premium built into prices could fade quickly.

111.66+2.76%vs previous close

+0.29%

since this story

Measured from the price when this story was posted to the latest stored price, so it can lag the live price.

This story

10/23, 11:00 AM10/24, 03:59 AM