Oil prices jump on escalating Middle East tensions; reports indicate the US and Israel are considering resuming strikes on Iran after the midterm elections.
Brent crude futures rose 1.71% to $110.67 a barrel on Thursday, while U.S. WTI crude gained 1.42% to $98.53. The New York Times, citing anonymous U.S. officials, reported that the U.S. and Israeli militaries have developed specific plans to resume strikes against Iran after the midterm elections and are advancing the planning for "short but intensive" operations. The U.S. State Department has ordered non-emergency government employees and their families to evacuate Saudi Arabia, citing increased attacks on civilian targets by Iran-backed Houthi rebels.
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