Iran has hit at least nine ships near Hormuz since Oct 11. Brent settled at $109.86. Will it close above $115 by Oct 23?
75% of users predicted NO — the community missed this one. 8 predictions cast.
Brent crude settled at $116.72 a barrel on October 23, 2026, up 3.1% on the day and its highest close since April 29, according to CNBC and Rio Times Online. The jump came amid escalating tension in the Middle East, including expectations that the United States would resume strikes on Iran in the coming weeks.
The rally built on weeks of disruption tied to the Strait of Hormuz, where Iranian forces had struck at least nine vessels since October 11, prompting shippers to divert or delay tankers through a chokepoint that carries roughly a fifth of global oil supply. Additional pressure came from Houthi attacks threatening Saudi Arabian infrastructure and from reduced output at two Libyan oilfields, compounding an already tight market.
West Texas Intermediate also climbed, settling near $103 a barrel the same day, a 3.8% gain.
Brent had been trading around $109.86 in the days before the Hormuz attacks intensified, so the move above $115 marked a sustained acceleration rather than a single-day spike.
Predict Six's community had put only 25% odds on Brent clearing $115 by October 23, so the majority view underestimated how far the escalation would push prices.