Iran appears to step up tanker attacks as Gulf hurricane compounds supply pressure
Brent crude rose roughly 4% in intraday trading on October 8, 2026, after a fresh tanker attack in the Persian Gulf unsettled oil markets, according to The Wall Street Journal. The move put the global benchmark on track for its highest close since mid-September.
A fresh tanker attack came as Iran appears to have intensified attacks on commercial tankers in the Strait of Hormuz. The escalation follows a stretch in which the United States had succeeded in restoring crude shipments through the waterway. Iran appears to have stepped up attacks in response to that restored flow.
Adding to the supply pressure, production cuts in the Gulf of Mexico, prompted by a hurricane, have tightened output, the Journal reported.
Higher energy prices were weighing on U.S. equities, which were slipping for a second consecutive session after the S&P 500 and Nasdaq Composite hit records on Tuesday. The S&P 500 sat at 7,801.77 on October 8, according to Federal Reserve Economic Data, while the Nasdaq Composite stood at 27,538.69.