# Oil Futures Rise After Officials Describe Strikes on Iran’s Qeshm Island

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/47428
Published: 2026-11-03T06:48:24.000Z
Updated: 2026-11-03T06:48:24.000Z
Section: Investing

> Brent reached $105.25 a barrel and U.S. West Texas Intermediate $96.93 in a snapshot taken at 8:04 p.m. ET Monday.

Brent and U.S. crude futures rose 0.5% in early Asian trading Tuesday after U.S. officials described strikes on Iran’s Qeshm Island, reviving attention to supply risks near the Strait of Hormuz.

At 8:04 p.m. ET Monday (0104 UTC Tuesday), Brent was $105.25 a barrel, up 48 cents. U.S. West Texas Intermediate crude futures stood at $96.93 after advancing 47 cents. Both benchmarks were 0.5% higher at that snapshot.

U.S. officials characterized the reported Qeshm strikes as limited. Officials also identified Iranian missile launchers as targets on the island. Separately, a U.S. official described defensive action against Iranian targets within the Strait of Hormuz. The official said those targets included Iranian personnel employing air-defense missiles against U.S. assets.

Brent’s Monday settlement was $104.77 a barrel, down $8.66, or 7.63%. Iranian officials said communications with Washington were ongoing following talks mediated by Qatar that ended without a breakthrough.

Before traffic fell sharply during the conflict, about 20% of worldwide crude oil and natural gas supplies moved through the Strait of Hormuz.