Brent oil price today moved sharply higher in Houston trading on Friday, with December futures touching $118 a barrel and standing at $117.75 as of 1:07pm EDT (1707 GMT). That level was up $2.287, or 2.5%, and marked the highest oil prices since the end of April, putting the market on course for a fourth straight month of gains as traders weighed supply risks linked to the Iran war and an attack on a tanker in the Strait of Hormuz.
How far benchmarks moved
December Brent, which was due to expire on Friday, briefly reached $118 before the quoted level of $117.75. The more actively traded January Brent contract gained $3.23 to $114.03. US West Texas Intermediate (WTI) crude—the main US benchmark—climbed $2.74, or 2.7%, to $104.79. For the month, Brent was on course to finish about 13% higher, while WTI was heading for a roughly 15% jump. Those figures show both major contracts rising in the same session, not a move limited to one expiry alone.
Why traders are watching the Middle East
Market participants braced for a potential escalation in the Iran war after the US midterm elections. An attack on a tanker in the Strait of Hormuz— the narrow waterway through which much seaborne Middle East oil passes—was cited as a fresh reminder of supply risk. Dennis Kissler, senior vice president of trading at BOK Financial, said traders will remain focused on oil flows out of the Middle East and the likely escalation by US and allied forces.
Timeline: what has happened so far
- End of April: International oil prices last stood at comparable highs before Friday’s rebound.
- This month: Brent was on course for a 13% monthly gain; WTI for about 15%.
- Friday: Prices rose to their highest since the end of April, on track for a fourth straight month of advances.
- Friday: Brent oil price today touched $118; December futures were $117.75 by 1:07pm EDT; January Brent rose to $114.03; WTI reached $104.79.
- Friday: A tanker attack in the Strait of Hormuz highlighted supply risks as traders eyed possible post-midterm escalation.
What comes next in the market
Attention stays on whether Middle East flows stay steady and whether military pressure rises after the US votes. Friday’s Brent oil price today reading is a futures-market snapshot at a set clock time, not a government fuel schedule. Further sessions will show whether the climb toward and above $118 holds as December contracts roll off and January trading leads.
Aasan alfaaz mein
Jumme ko Brent tel ka bhao 118 dollar tak gaya. Us waqt December futures 117.75 dollar par the, 2.5 percent upar. WTI bhi 104.79 dollar tak barha. Traders Middle East ki supply aur Iran jang ke possible escalation ko dekh rahe hain.
