EconomyOil prices surge on Middle East tensions and US hurricane threat

Brent crude rose 3.8% to $104 a barrel on Thursday as fears of escalating Middle East tensions and a hurricane threat off the US coast raised concerns about supply. Potential strikes against Iran add to regional risks, while Shell and Chevron have shut Gulf of Mexico production. Global bonds and stocks also fell.

Oil pricesMiddle East tensionsCrude supplyGlobal markets

TThe Guardian★★★★☆2026-10-08 08:44Original