Oil Prices Jump 3% on Middle East Tensions, Hitting Highest Since April

au.investing.com —

Oil prices surged $3 per barrel on Friday, October 23, 2026, reaching their highest settlement since April, driven by Houthi attacks and an oil spill. The price jump reflects escalating Middle East tensions, with the U.S. preparing for a prolonged conflict with Iran, according to a Trump envoy's comments to the Financial Times. Rising oil costs are fueling inflation concerns, overshadowing war risk premiums and contributing to a rocky week on Wall Street, where major indices closed lower.


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