Oil Price Nears Yearly High: Is a Stock and Crypto Crash Coming? 

Brent crude touched $117.42 a barrel on Friday, October 23, its highest level since April, as attacks by Iran-backed Houthi forces on Saudi Arabia intensified and an oil spill near the United Arab Emirates raised shipping-security concerns. Saudi Aramco evacuated its headquarters. The US and Israel have reportedly prepared plans for renewed strikes on Iran, potentially targeting energy infrastructure after the November 3 elections, though the White House said no attack would occur before the vote. On Thursday, the Nasdaq fell 2.6%, the S&P 500 lost 1.2%, and Bitcoin dropped toward $81,400 as crypto liquidations approached $441 million. Rising oil prices add to inflation concerns that could keep Federal Reserve rates restrictive.