Brent Crude Surges to $118 Amid US Midterm Elections and Eight-Month War in Iran
Brent crude oil prices rose to $118 per barrel on October 30, 2026, driven by the approach of US midterm elections and an ongoing war in Iran. The surge led to record quarterly profits for US oil companies. Global oil markets reacted sharply to the geopolitical tensions.
Where Sources Diverge
infobae and 20-minutos both report the rise in Brent crude oil prices to $118, but 20-minutos adds the context of record quarterly profits for US oil companies.
Brent rises to $118 as midterms approach and after more than eight months of war in Iran
Brent rises to $118 as US midterm elections approach and after over eight months of war in Iran. The rise in oil prices has pushed US oil companies to record quarterly profits.
The exact duration of the war in Iran is mentioned as 'over eight months' by 20-minutos, while infobae states 'more than eight months of war in Iran'.
more than eight months of war in Iran
after over eight months of war in Iran
The publication dates of the articles are slightly different, with infobae reporting the event on October 30, 2026, at 19:31:06.000Z, and 20-minutos reporting it at 19:47:08.000Z.
PUBLISHED: 2026-10-30T19:31:06.000Z
PUBLISHED: 2026-10-30T19:47:08.000Z
The event is classified as a current event by both sources, but the exact date is specified as October 30, 2026, in both cases.
PUBLISHED: 2026-10-30T19:31:06.000Z
PUBLISHED: 2026-10-30T19:47:08.000Z
Sources
The rise in oil prices has pushed US oil companies to record quarterly profits.