https://www.live-feeds.com/feed/oil-hits-110-per-barrel-for-first-time-since-mayContinuously updated, source-cited coverage. https://www.live-feeds.com/feed/oil-hits-110-per-barrel-for-first-time-since-mayhttps://www.live-feeds.com/feed/oil-hits-110-per-barrel-for-first-time-since-may#u144175Wed, 21 Oct 2026 20:08:02 +0000Oil prices surged to $110 per barrel, reaching a five-month high driven by escalating supply risks in the Middle East. Brent crude peaked at $111.99 before retreating to $108.79 following reports of diplomatic talks. Prices have climbed more than 50 percent since the start of the U.S.-Iran war in late February. Market volatility remains high as traders weigh Iranian attacks on ships in the Strait of Hormuz and Ukrainian threats against Russian refineries against potential IEA reserve releases and diplomatic efforts to avert major hostilities.Why it mattersThe Strait of Hormuz is a critical tra