Brent rebounds to $98.29 after new attacks on tankers
Brent settled $3.67 higher at $98.29 on Thursday. Eurasia Group cut the odds of a US deal with Iran to 10% from 20%.
Source published · In the Daily Brief of 6 November 2026
Wednesday’s fall on hopes of an end to the Iran war partly reversed. At least five vessels have reported incidents in the Gulf since Sunday, according to the UK maritime agency UKMTO, close to the pace of October, when 35 vessels were hit, the most in any month of the war.
Eurasia Group lowered its estimate of renewed US strikes to 60% from 65%, cut the chance of a deal to 10% from 20%, and raised the likelihood of a continued standoff to 30% from 15%. It said an escalation could push Brent to $110–125. Citi warned that the White House could turn to executive powers in foreign policy now that the midterms are over.