Crude prices climb amid fears of renewed U.S.-Iran conflict

Oil prices climbed on Friday as markets weighed the potential for renewed military conflict between the United States and Iran after the conclusion of the midterm elections. Brent crude futures increased to $99.90 per barrel, and U.S. West Texas Intermediate crude futures rose to $91.69 per barrel. The price increases came alongside ongoing reports of attacks on oil tankers in the Strait of Hormuz. Analysts noted that concerns persist over threats to Middle Eastern oil supplies, while simultaneous diplomatic efforts and proposals continue to be assessed.