Oil Prices Head for Fourth Monthly Gain as Middle East Tensions Escalate

Crude oil prices were set for another weekly gain today, also extending their monthly rise to four months in a row amid continued fears of escalation in the Middle East and Houthi attacks on Saudi infrastructure. At the time of writing, Brent crude was trading at $116.56 per barrel, with West Texas Intermediate at $103.35 per barrel ahead of the November 3rd U.S. midterm elections. President Trump has suggested repeatedly that the U.S. could resume strikes against Iran after the elections. Media have reported the U.S. and Israel are coordinating…