Oil surges above $111 as Iran claims attacks on seven vessels

AI Summary

Crude oil prices rose above $111 per barrel amid Iran’s claim that seven vessels were hit in separate incidents near the Persian Gulf and Strait of Hormuz. The reports heightened concerns about threats to shipping and disruption to global energy supplies.

Global crude oil prices surged above $111 per barrel on Thursday, October 22, 2026, as Iran claimed that seven vessels had been hit in separate incidents around the Persian Gulf and Strait of Hormuz, raising fresh concerns over disruptions to global energy supplies. The post Oil surges above $111 as Iran claims attacks on seven vessels appeared first on Nairametrics.