Brent crude settles above $116 after Tehran lists Gulf data centers as strike targets

Brent crude finished trading at just over $116 per barrel on Friday, marking its highest close in six months. The international benchmark rose by more than 2.7 percent from the previous day. At one point during the session, the price broke through $117, the highest level recorded since April.

The price jump followed new statements from Iranian leadership. Officials in Tehran said they would target oil facilities, undersea cables, data centers, and artificial intelligence infrastructure in the Gulf if the United States and Israel launch a new joint offensive. The threat adds tech assets to the list of potential strike zones, which previously focused mainly on energy and military sites.

Market analysts linked the volatility to reports that Washington is weighing renewed military strikes on Iran. Richard Hunter, a broker at Interactive Investor, said the shift toward military action after the midterm elections was enough to trigger the price spike. He noted that the conflict, which many viewed as brief, is now entering its eighth month.

The conflict has kept oil prices elevated for months. In February, before the war began, Brent crude traded at approximately $72 per barrel. By the end of April, tensions had pushed the price to $126. Current levels continue to raise costs for consumers and businesses globally.

Tensions escalated throughout the week. On Wednesday, the Islamic Revolutionary Guards Corps claimed it struck four commercial ships in the Strait of Hormuz. The strait is a key chokepoint for global oil shipments. Susannah Streeter, chief investment strategist at Wealth Club, said the journey across the waterway remains dangerous because projectiles are still being fired at maritime traffic.

The United States responded to the instability by ordering some diplomats and families of US government employees to leave Saudi Arabia. The kingdom has faced continued attacks from Houthi rebels based in Yemen. Streeter said fears are mounting that American and Israeli forces may target Iran’s energy infrastructure after the US elections on November 3.

Other global factors are also affecting supply. Streeter pointed to Ukraine’s bombardment of Russian diesel refineries as an additional pressure on energy chains. This complicates an already volatile market environment.