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Oil prices reach five-month high amid claimed attacks on ships, facilities

Brent crude briefly topped $111 a barrel after Iran and its Houthi allies claimed attacks; U.S. gas averaged $4.27.

Updated Oct 22, 2026 · 12:14 UTC4 reports

The short version

  • Global oil prices reached their highest level in five months on Tuesday, with Brent topping $111 a barrel before retreating to $110.30.[ABC News]
  • Iran and its Houthi allies claimed attacks on oil infrastructure, including Houthi claims of strikes on Saudi Arabia's Shaybah field and Yanbu facilities.[ABC News]
  • The UK Maritime Trade Operations Center issued an advisory after a report of a tanker incident off Oman, and Iranian state media attributed a claim about mines to the Revolutionary Guard.[ABC News]
  • U.S. gas averaged $4.27 a gallon, up nearly $1.30 since late February, and the attack claims remain unverified in this reporting.[ABC News]

Key facts

  • Brent crude futures topped $111 a barrel for the first time since May before retreating to $110.30 a barrel.[ABC News]
  • Iran and its Houthi allies claimed attacks on oil infrastructure in the Middle East, and global oil prices reached a five-month high on Tuesday.[ABC News]
  • The UK Maritime Trade Operations Center issued an advisory after receiving a report of an incident involving a tanker and military forces off the coast of Oman.[ABC News]
  • Iranian state-run media reported that the Islamic Revolutionary Guard Corps claimed two oil tankers hit naval mines south of the Strait of Hormuz.[ABC News]
  • Houthi militants claimed a wave of strikes on Saudi Arabia on Monday, including the Shaybah oil field and Saudi Aramco facilities in Yanbu.[ABC News]
  • The average U.S. gas price was $4.27 a gallon on Tuesday according to AAA, a rise of nearly $1.30 since late February.[ABC News]
  • According to ship tracker Kpler, at least 18 vessels have come under fire over the past two weeks.[CNBC]

What remains uncertain

  • The Iranian claim that two oil tankers hit naval mines is attributed to state media and the Revolutionary Guard and is not independently confirmed in the reporting.[ABC News]
  • The count of 18 vessels under fire is attributed to Kpler's ship tracking and is presented as Kpler's figure rather than independently verified.[CNBC]

Sources

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.