Oil prices climb amid Iran options

Oil prices have risen sharply by 2% following reports that the United States has asked the Pentagon to prepare options for striking Iran before the midterm elections. This comes amid ongoing Iranian attacks on vessels and regional tensions. Brent prices increased to $102.5 per barrel, while WTI rose to $90, amid expectations that limited operations may be followed by larger escalations after the elections. At the same time, Gulf of Mexico producers have halted over 510,000 barrels per day due to Storm "Esius," amid declining inventories, rising shipping costs, and increasing pressure on global oil supplies.

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