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Euronews lead image for report on Iran striking tankers outside the Strait of Hormuz
Photo: Euronews

Oil Rises to $91 After Qatar Tanker Attack

Al Jazeera (AFP/DPA) via Yahoo News2 min read6 sources

Why is oil up today?

Oil (CL=F) rose about 3% to near $91 a barrel on Thursday after the tanker Acers was hit by projectiles off Qatar, stoking fears of Gulf shipping attacks beyond Hormuz.

Key numbers

US crude (WTI)$90.98+3.06% on the day
Brent crude$108.33+3.42% vs prior day
Acers distance north of Madinat ash Shamal94 km51 nautical miles
Tanker attacks in Hormuz so far in October9per UKMTO
Brent vs a year ago$66.47 to $108.33+63%
US 10-year Treasury yield5.29%higher on inflation worries

What happened

Oil (CL=F) rose about 3% to near $91 a barrel on Thursday after the tanker Acers was hit by projectiles off Qatar, stoking fears of Gulf shipping attacks beyond Hormuz. UKMTO, a UK maritime agency, said the ship was hit on Wednesday about 94 km north of Qatar's coast, with casualties but no number given. It is roughly 500 km from the Strait of Hormuz (per), where most recent attacks happened. No one has officially claimed it. Brent, the global benchmark, reached about $108, up 63% in a year.

Why it matters

Oil prices matter to everyday budgets because they feed into fuel, shipping and food costs. Until now, attacks clustered around Hormuz, a waterway that carries about 20% of the world's oil and gas supply. A hit this far inside the Gulf suggests ships serving Qatar, Bahrain, Saudi Arabia, Kuwait and Iraq could also be at risk (per). Higher oil also revived inflation worries, and the S&P 500 fell 0.7%.

Who this affects

Marketbearish
Medium impact
Stock investors face inflation worries; the S&P 500 slipped.
Companybearish
High impact
Acers' owner and crew face casualties and ship damage.
Competitorsmixed
Medium impact
Other Gulf shippers face higher risk; US oil producers gain from pricier crude.
Industrybearish
High impact
Gulf shipping and insurers face wider attack zones and costs.

Oil (WTI) vs Brent Crude, S&P 500

WTI crudeCL=F$90.98+3.06%
Brent crudeBZ=F$108.33+3.42%
S&P 500^GSPC7,745.35-0.72%
10-year Treasury yield—5.29%—

As of 2026-10-08

How we got here

  1. Last strike this far west of Hormuz with casualties, before the Acers (per).

  2. At least one tanker attack per day reported from this date.

  3. Acers hit by multiple projectiles 94 km north of Qatar's coast; casualties reported.

  4. Fire reported on tanker Dhalgout off Fujairah; oil rises on Gulf shipping fears.

What to watch

  • Whether more tankers are hit in the western Gulf, away from HormuzOngoing
  • Trump's pledge of no US attack on Iran before midterm elections, which briefly eased oil2026-11-03
  • Whether higher oil keeps pushing up inflation worries and Treasury yieldsQ4 2026

Educational content only. Not investment advice.

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