Brent Tops $116

TehranHormuz traffic ran 11% below normal as of 18 October.

Brent reached $116.70 on 23 October, up 6.2% in a week, while the US blockade of Iran continues.

Revolutionary Guards spokesman Hossein Mohebbi posted a burning tanker beside the Brent price, Iran’s state-affiliated Mehr News Agency reported.

Polymarket traders give a US-Iran Hormuz agreement by 2 November a 4% chance.

How each outlet framed it

Mehr News Agency: frames the Brent move as an IRGC spokesman's X post of a burning tanker, tying the price to Hormuz incidents