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Oil prices rise after tanker attack in Strait of Hormuz, pushing for fourth monthly gain amid supply concerns.

Market News
30 Oct 2026, 13:23 WIB
FXEmpire
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Bullish
Oil prices rise after tanker attack in Strait of Hormuz, pushing for fourth monthly gain amid supply concerns.

Crude oil prices for both WTI and Brent futures rose early Friday following a tanker attack in the Strait of Hormuz, reinforcing supply risk concerns in the region. This event helped push the markets toward a fourth consecutive monthly gain despite ongoing peace talks that had previously capped price increases. Key factors supporting the rally include low U.S. crude inventories, reduced flows through Hormuz, and attacks on Saudi refineries. Technical analysis shows the uptrend remains intact, but prices are high and the market remains vulnerable to sharp moves depending on further supply disruptions or peace deal developments.

Crude oil price movements following the Hormuz tanker attack provide context for the energy sector's performance on Pluang as of Oct 30, 2026 15:11 WIB. Of 79 priced Energy-sector US stocks, 49 rose and 25 fell today. Notable movers include Exxon Mobil Corporation (XOM) at USD 186.80 with a 1-day change of +1.91% and a typical hold time on Pluang of 100 days, alongside Solaredge Technologies Inc (SEDG) at USD 29.93 down 1.98%.

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