Geopolitical tensions in the Middle East spurred a surge in international oil prices

Stimulated by renewed geopolitical tensions in the Middle East and other factors, international crude oil futures prices rose significantly on the morning of the 8th. The price of light crude oil futures on the New York Mercantile Exchange and the price of Brent crude oil futures in London both rose by more than 5%.

Data show that the price of light crude oil futures for November delivery on the New York Mercantile Exchange once rose to US$92.84 per barrel that day, an increase of 5.17% compared with the previous day’s closing price. The price of London Brent crude oil futures for December delivery once rose to $105.48 per barrel, an increase of 5.27%.

The British Maritime Trade Action Office issued a report on the 7th saying that an oil tanker was hit by multiple projectiles in the waters near Qatar that day.

Data released by Kepler, an international market service organization, showed that only seven oil tankers passed through the Strait of Hormuz on the 6th, the lowest level since July 23. From September 28 to October 4, 10 oil tankers were attacked in the Strait of Hormuz.

According to reports from the United States on the 7th, the U.S. Department of Defense has recently instructed the U.S. Central Command to complete preparations for the resumption of large-scale military operations against Iran within a few days.

Yemen’s Houthi armed forces said earlier on the 8th that the organization once again attacked King Khalid International Airport in Riyadh, the capital of Saudi Arabia, and launched an attack on Yemeni government forces near the Bab el-Mandeb Strait. Saudi warplanes launched a new round of air strikes on areas controlled by the Houthi armed forces in Yemen that day, targeting Hodeidah International Airport and local communications facilities.