# Oil rises after reported U.S. strike on Iran's Qeshm Island

> Oil prices edged higher in Asian trade on Tuesday after falling sharply the previous session, as a reported U.S. strike on Iran's Qeshm Island in the Strait of Hormuz revived supply concerns. Brent rose 0.3% to $105.4 a barrel and WTI gained 0.5% to $96.93. The strike was reportedly part of a series of limited U.S. attacks while Iranian and Qatari-mediated talks continue.

- Date: 2026-11-03 · published 2026-11-03T03:07:23.996Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/76862-oil-rises-after-reported-u-s-strike-on-iran-s-qeshm-island
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Renewed Hormuz risk adds a geopolitical premium back into crude, which feeds energy and fertilizer costs and supports diesel and freight costs for feed ingredient supply chains. Without a durable deal, the price direction remains volatile.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-06-13 | [Oil prices surge after Israel's strike on Iran \| CBC News](https://feedsoft.ai/events/10997-oil-prices-surge-after-israel-s-strike-on-iran-cbc-news.md) | +10.2% | +1.1% |
| WTI | 2019-10-11 | [Oil rises 2% after reports of Iranian tanker attack \| Reuters](https://feedsoft.ai/events/56737-oil-rises-2-after-reports-of-iranian-tanker-attack-reuters.md) | +0.6% | +6.4% |
| WTI | 2025-06-13 | [Risk of regional conflict drives oil price surge after Israel's strike on Iran](https://feedsoft.ai/events/11000-risk-of-regional-conflict-drives-oil-price-surge-after-israel-s-strike-on-iran.md) | +10.2% | +1.1% |
| WTI | 2026-07-29 | [Oil rises as US-Iran tension escalates after Iraq strikes, missile attack](https://feedsoft.ai/events/18524-oil-rises-as-us-iran-tension-escalates-after-iraq-strikes-missile-attack.md) | -4.4% | +3.8% |
| WTI | 2020-01-03 | [Oil prices jump after U.S. air strike kills top Iranian commander \| Reuters](https://feedsoft.ai/events/55265-oil-prices-jump-after-u-s-air-strike-kills-top-iranian-commander-reuters.md) | -2.6% | -15.7% |
| BRENT | 2025-06-13 | [Oil prices surge after Israel's strike on Iran \| CBC News](https://feedsoft.ai/events/10997-oil-prices-surge-after-israel-s-strike-on-iran-cbc-news.md) | +12.0% | -0.8% |
| BRENT | 2019-10-11 | [Oil rises 2% after reports of Iranian tanker attack \| Reuters](https://feedsoft.ai/events/56737-oil-rises-2-after-reports-of-iranian-tanker-attack-reuters.md) | +0.9% | +5.7% |
| BRENT | 2025-06-13 | [Risk of regional conflict drives oil price surge after Israel's strike on Iran](https://feedsoft.ai/events/11000-risk-of-regional-conflict-drives-oil-price-surge-after-israel-s-strike-on-iran.md) | +12.0% | -0.8% |

## Sources

- au.investing.com: https://au.investing.com/news/commodities-news/oil-rises-after-reported-us-strike-on-irans-qeshm-island-4736023
- cnbc.com: https://www.cnbc.com/2026/11/03/oil-prices-climb-after-us-reportedly-strikes-irans-qeshm-island.html
- cnbc.com: https://www.cnbc.com/2026/11/03/oil-rises-after-report-of-us-strike-on-irans-qeshm-island.html
- moneycontrol.com: https://www.moneycontrol.com/news/business/oil-prices-rebound-after-7-crash-as-us-reportedly-strikes-iran-s-qeshm-island-14066843.html
- thenationalnews.com: https://www.thenationalnews.com/business/energy/2026/11/03/oil-prices-cross-105-after-us-strikes-on-irans-qeshm-island/
- za.investing.com: https://za.investing.com/news/commodities-news/oil-rises-after-reported-us-strike-on-irans-qeshm-island-4544520

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.