# Iran Tensions Lift Brent to Seven-Month High as U.S. Stocks Fall

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/39486
Published: 2026-10-24T00:55:12.000Z
Updated: 2026-10-24T00:55:12.000Z
Section: Investing

> Brent settled at $116.72 a barrel, while the Dow, Nasdaq and S&P 500 all ended lower Friday.

Brent crude reached a seven-month high Friday as Iran's Islamic Revolutionary Guard Corps Navy said two supertankers struck mines near the Strait of Hormuz and U.S. stocks fell across the board.

Brent futures settled at $116.72 a barrel, up $3.55, or 3.14%, for the session and more than 6.2% for the week. U.S. benchmark West Texas Intermediate ended at $103.27, gaining $3.80, or 3.82%, Friday and more than 4.3% on the week.

The Navy said the two tankers had tried to cross the southern part of the strait illegally and hit mines earlier Friday. President Donald Trump said Oct. 23 the United States might carry out another small “Epic Fury” operation against Iran, or Tehran might choose to compromise. He also said the U.S. could end the war quickly, framing the choice as ending the conflict or allowing it to fade gradually.

The Dow Jones Industrial Average fell 1.24% Friday, while the Nasdaq Composite lost 0.21% and the S&P 500 declined 0.52%. For the week, the Dow gained 0.41%, while the Nasdaq and S&P 500 fell 0.71% and 0.47%, respectively.

The oil moves came amid heightened Middle East tensions.