Global oil markets experienced a significant increase on Thursday, with Brent crude rising to $104.60 per barrel—a 4.4 percent jump—and West Texas Intermediate (WTI) climbing nearly 4 percent. This market volatility follows reports that the White House is weighing new military strike options against Iran. The timing of these potential actions has drawn attention due to their proximity to upcoming elections in both the United States and Israel.

While reports suggest the administration is actively considering whether to resume major combat operations, the White House has maintained a broad stance on its strategic capabilities. A spokesperson stated that the President “has all options available at any time,” emphasizing that the United States currently holds a strong geopolitical position. The reports have fueled speculation regarding whether such military decisions might be influenced by the domestic political calendar, specifically the upcoming November midterms. There is no official confirmation regarding the timing or nature of any potential strikes, but the market reaction reflects investor concern over the possibility of renewed conflict in the region.