Vahid Online in English

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23 Oct 2026, 13:05

With ongoing tensions in the Middle East and reports of a potential attack by the U.S. and Israel on Iran, global oil prices reached their highest level in five months on Friday, November 1, surpassing $114.

On Friday, Brent crude oil was traded at $114.50 per barrel in European markets, marking an increase of over one percent compared to the previous day. This is the highest price for this type of oil since May.

Experts have cited the continued attacks by Iran-backed Houthis on Saudi Arabia's energy infrastructure and rising speculation about a new wave of attacks by Israel and the U.S. on Iran following the U.S. midterm elections as the main reasons for the increase in oil prices.

At the same time, natural gas prices in Europe surged another four percent on Friday, bringing the total increase for this month to about 30 percent.
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