OIL HITS FIVE - MONTH HIGH AMID FEARS US WILL RENEW STRIKES ON IRAN

What happened: Oil reached a five-month high as markets reacted to fears of renewed US strikes on Iran and threats by Tehran to target Gulf oil facilities, undersea cables, datacentres and AI facilities. Key numbers: Brent rose 1% on Friday to above $115 a barrel, its highest since May. Why it matters: Analysts cited by the report said reports that Washington may pursue military strikes after the midterms rather than diplomacy drove the price move, while Houthi attacks on Saudi facilities and Ukraine's strikes on Russian diesel refineries added to supply concerns.

Oil reached a five-month high as markets reacted to fears of renewed US strikes on Iran and threats by Tehran to target Gulf oil facilities, undersea cables, datacentres and AI facilities.

Analysts cited by the report said reports that Washington may pursue military strikes after the midterms rather than diplomacy drove the price move, while Houthi attacks on Saudi facilities and Ukraine's strikes on Russian diesel refineries added to supply concerns.