Oil rises above $102 as Iran tensions stoke supply fears

MG News | October 08, 2026 at 10:11 AM GMT+05:00

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October 08, 2026 (MLN): Oil prices rose on Thursday as escalating tensions in the Middle East heightened concerns over potential disruptions to crude supplies from the region.

Currently, Brent crude futures is up, 0.88%, at $102.42 per barrel, according to data by Mettis Global.

West Texas Intermediate (WTI) crude futures is down by $0.36, or 0.40%, to $89.93 per barrel by [10:06 am] PST.

The U.S. is reportedly weighing the possibility of resuming large-scale military operations in Iran in the coming weeks, including potential strikes ahead of next month’s midterm elections, NBC News reported.

Meanwhile, regional tensions have intensified, with Iran-backed Houthis recently targeting airports in Saudi Arabia, while Iran has also been attacking tankers in the Strait of Hormuz.

“Looking ahead, crude is likely to remain tied to the security of Gulf export routes and infrastructure,” said Inki Cho, a financial markets consultant.

Cho added that any escalation disrupting traffic through the Strait of Hormuz or affecting Saudi energy infrastructure could threaten physical supply and push oil prices higher, reported by CNBC.

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Name	Price/Vol	%Chg/NChg
KSE100	169,450.93 46.73M	0.52% 870.52
ALLSHR	102,440.64 112.44M	0.49% 494.45
KSE30	50,624.64 27.21M	0.47% 235.66
KMI30	243,461.21 22.34M	0.66% 1598.76
KMIALLSHR	66,316.85 75.66M	0.54% 358.12
BKTi	47,064.69 1.31M	0.42% 196.65
OGTi	34,508.44 1.00M	-0.03% -11.66

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	83,000.00	83,660.00 82,315.00	-620.00 -0.74%
BRENT CRUDE	102.59	102.63 100.76	2.39 2.39%
RICHARDS BAY COAL MONTHLY	128.50	0.00 0.00	1.20 0.94%
ROTTERDAM COAL MONTHLY	143.70	144.00 143.00	-0.95 -0.66%
USD RBD PALM OLEIN	1,167.50	1,167.50 1,167.50	0.00 0.00%
CRUDE OIL - WTI	90.10	90.16 88.77	1.82 2.06%
SUGAR #11 WORLD	20.85	21.24 20.17	0.03 0.14%