Oil (Brent)
Assessed by an AI model against this signal's rubric. Describes conditions; not a forecast or advice.
Brent above $110 as Hormuz stays largely closed
Why it's at this level
Brent last settled at $113 on 30 Oct, above the $110 Alert line and up 11% over the month. Iran said four tankers caught fire after striking mines near Hormuz on 31 Oct, and Iran halted tanker movements the same day. In Doha talks Tehran has offered to reopen the strait within two days, on conditions the US has not accepted.
What this means for you
Expect continued high petrol, diesel and heating-oil prices, with knock-on effects on transport costs and inflation.
Part of a wider situation
US–Iran war and Gulf energy shock: War in stalemate with Hormuz largely closed: Brent above $110, TTF above €100, tanker attacks on 29–30 Oct.
Why it matters
Oil feeds inflation, transport and household budgets; price spikes have preceded most post-war recessions.
What moves it
OPEC+ output, Middle East supply risk, sanctions, demand, inventories, shipping disruption.