Onur Ant

And Brent Crude, the international benchmark, is up four and a half percent, trading close to $106 a barrel now, with both the US and Iran signaling they are digging in for a longer war.

Bloomberg's Onur Ant has the latest from Dubai.

There is a possibility that we might see a return, uh, to what we have seen, uh, at the height of this conflict, uh, attacks on energy sites elsewhere in the region.

And we got a, uh, stark reminder of that earlier this week when Houthis claimed that they attacked, uh, and damaged, uh, Saudi energy sites.

And Bloomberg's Onur Ant reports Saudi Arabia reported its lowest energy output since 1990 last month in light of those attacks.

As the war continues, it's getting tougher to track Iran's nuclear activity.

International Atomic Energy Agency chief Rafael Grossi says there is some evidence of movement around Iran's Pickaxe Mountain.

Stocks are under pressure, and Treasury yields are hitting multi-year highs, with Iran signaling it is ready to escalate the war with the US.

Bloomberg's Onur Ant has the latest from Dubai.

Neither the US nor Iran, uh, is backing down from their demands, uh, with the Strait being at, being basically the, serving as a main, uh, flashpoint here.

We have seen attacks on shipping, uh, over the past week, and is, Iran is now saying that it is going to intensify its strikes should the US continue attacking its territory and infrastructure.

That's Bloomberg's Onur Ant.

And Houthi attacks on Saudi Arabia's energy infrastructure have the kingdom reporting its lowest crude output since 1990 last month.

All this has Brent up more than 3%, trading just shy of $105 a barrel.

A senior Iranian official says the regime is prepared to escalate attacks, even as President Trump predicts the war will be over immediately after the midterms.

Bloomberg's Onur Ant has more from Dubai.

Well, president's, uh, prediction for a quick end to the war is nothing new and probably based more, uh, on his expectation that the, uh, economic D-Day, uh, declared against Iran is going to, uh, affect the kind of political change that he's, uh, looking forward to.

But if we look at, uh, what's going on here in the region, uh, over the last week, uh, we still think there is a serious risk, uh, of escalation, uh, uh, especially around the Strait of Hormuz.

That's Bloomberg's Onur Ant reporting.

And this morning, Saudi Arabia warned its crude production hit its lowest level since 1990 last month, with Houthi attacks targeting its supply chain.

And right now, Brent crude is at a hundred and five dollars, four cents a barrel, a gain of three point eight percent.

In the Middle East, Iran and the US appear to be digging in for a protracted war, even as President Trump predicts the conflict will end immediately after the November midterms.

Bloomberg's Onur Ant has more from Dubai.

Well, president's, uh, prediction for a quick end to the war is nothing new and probably based more, uh, on his expectation that the, uh, economic D-Day, uh, declared against Iran is going to, uh, affect the kind of political change that he's, uh, looking forward to.

But if we look at, uh, what's going on here in the region, uh, over the last week, uh, we still think there is a serious risk, uh, of escalation, uh, uh, especially around the Strait of Hormuz.

And as Bloomberg's Onur Ant who reports President Trump is saying he does not think Iran could hold out much longer, but The Wall Street Journal reports Vice President JD Vance and Secretary of State Marco Rubio have raised the prospect of the conflict lasting through the end of President Trump's term.

Brent is jumping this morning.

Meanwhile, it's topping $105 a barrel, currently sitting at $105.76. That is up well more than 4%.

Brent crude is trading above $101 a barrel now after the latest attacks.

Bloomberg's Onur Ant has details from Dubai.

What happened overnight was kind of, uh, unprecedented, unless you go back, uh, 40 years in history and look at what happened during the Iran-Iraq War in the '80s, uh, and the tanker war there.

Uh, five Iranian oil tankers not just struck, but destroyed by the U.S., uh, in response to which Tehran said it struck another eight tankers.

That hasn't been confirmed yet, but that's what Iranians have been saying, in addition to targeting two U.S. vessels, which again, they did not identify.

That's Bloomberg's Onur Ant in Dubai.

And checking crude prices right now, Brent is up more than 3.3% at $101.21 a barrel.

West Texas Intermediate's above $96 for a gain of 3.3%.

Iran, though, responded by firing missiles at Jordan and warning tanker crews near Kuwaiti and Bahraini piers to abandon their vessels.

Our Middle East managing editor, Onur Ant, says that the latest escalation is very dangerous.

This is massive escalation, and we are seeing the impact both in the sea and in markets this morning.

And what's scary this time around is that because this has never happened before, we don't know what comes next, except the fact that Iran says it will retaliate against both the US forces and energy assets, including tankers in the region.

Onur Ant speaking as the latest escalation fuels fears of deeper disruption through the Strait of Hormuz in the weeks and months ahead.

Israel is closing the British consulate in East Jerusalem in response to new UK sanctions against its West Bank settlements.

The move comes after the UK announced a ban on imports from Israeli settlements and sanctions on some companies and individuals providing services to them.

Iran responded by firing missiles at Jordan and warning tanker crews near Kuwaiti and Bahraini piers to abandon their vessels.

Our Middle East managing editor, Onur Ant, says the latest escalation is very dangerous.

This is massive escalation, and we are seeing the impact both in the sea and in markets this morning.

And what's scary this time around is that because this has never happened before, we don't know what comes next, except the fact that Iran says it will retaliate against both the US forces-

Mm.

-and energy assets, including tankers in the region.

Onur Ant referring there to the fact that the renewed fighting has pushed Brent Crude closer to $100 a barrel with the global benchmark, uh, trading above $99.

The latest escalation is now fueling fears of deeper disruption through the Strait of Hormuz, the crucial route for global energy supplies.