UPDATES: US War on Iran, Day 239 — Attacks on Shipping in Strait Of Hormuz Highest Since March
Oil has surged to its highest price since April amid the Trump camp’s threats to renew attacks on Iran after US midterm elections on November 3, and Iran’s promised retaliation against oil facilities, undersea cables, data centers, and AI facilities in the Gulf region.
Brent crude passed $117 per barrel at one point on Friday before settling at $116.72, more than 3% higher.
Before the US-Israel War began on February 28, Brent was around $72 per barrel. By the end of April, it reached $126 before plummeting to just over $70 in July with the possibility of a settlement based on a Memorandum of Understanding signed by Tehran and Donald Trump.
At a summit in Istanbul, European and Middle Eastern Foreign Ministers expressed their opposition to renewed attacks on Iran.
Turkish Foreign Minister Hakan Fidan said:
Military intervention in Iran is not any kind of solution. We agreed that a new military attack would spread the war and the conflict in the region. All the countries around the table do not want the war to spread even more, once again.
German Foreign Minister Johann Wadephul said Germany, France and the UK are ready to negotiate with Iran to rule out its acquisition of nuclear weapons.
Wadephul also called for support for Saudi Arabia and the Yemen Government to defend themselves and for concrete negotiations with Yemen’s Houthis to resume.
The Middle Eastern states were represented by Turkey, Pakistan, Saudi Arabia, and Egypt. The first three states declared the Makkah Alliance in August for mutual defense, a pact which the Egyptians may join.
The European side was represented by Germany, France, the UK, and Italy.
