Archive · 12 Oct 2026
Oil Holds Above $105 as Tanker Attacks Continue
Oil prices have stayed high while attacks on ships and other targets continue in West Asia.
Brent crude was reported above $105 a barrel.
The International Maritime Organization said 11 tankers were attacked in one week, the most in a week since the conflict began.
Another report counted five tanker attacks in the following week.
A projectile hit one tanker and injured 12 sailors.
These attacks have made people worry that less oil might reach the world.
Prices briefly dropped when reports suggested the United States and Iran might have a diplomatic opening.
They later rose again, as the risks to shipping remained.
Brent crude was reported above $105 a barrel, while West Texas Intermediate traded around $92.
The International Maritime Organization said 11 tankers were attacked in the Strait of Hormuz during the week ending October 4, its highest weekly total since the conflict began.
A separate report said five tankers were attacked in the following week, and 12 sailors were injured when a projectile struck a tanker.
Attacks on Saudi Arabia and commercial shipping, including a drone strike on a tanker near Oman, raised fears of supply disruptions.
Oil prices briefly fell below $98 on Tuesday after reports of a possible US-Iran diplomatic opening, then recovered; the articles also cite announcements by Donald Trump about energy arrangements.
- Who
- Oil traders, shipping crews, and parties involved in attacks on Saudi Arabia and commercial shipping.
- What
- Crude prices remained elevated amid tanker attacks and fears of supply disruption.
- When
- Reports cover trading on Monday and Tuesday and tanker attacks in weeks ending October 4 and the following week; the year is not specified.
- Where
- West Asia, including the Strait of Hormuz and waters near Oman.
- Why
- Continuing attacks on tankers and regional targets raised concerns about maritime safety and oil supplies; reports of a possible US-Iran diplomatic opening temporarily eased some market risk concerns.
- Brent crude
- Reported above $105 a barrel for December contracts; it also briefly fell below $98 on Tuesday before recovering.
- West Texas Intermediate
- Trading around $92 a barrel.
- Tanker attacks
- The IMO reported 11 tanker attacks in the Strait of Hormuz in the week ending October 4.
- Following week
- A separate report said five tankers came under attack.
- Injured sailors
- Twelve sailors were injured when a projectile hit their tanker; the article says they were Indian nationals and the ship was UAE-owned.
- Tanker strike near Oman
- A drone hit a tanker near the coast of Oman, according to the UK Maritime Trade Operations.
- Market factors
- Attacks heightened supply concerns, while reports of a possible US-Iran diplomatic opening eased some geopolitical risk premium.