FTSE 100 slides as oil hits $105 on fears the White House is PLANNING Iran strikes before midterms

From the Newshound archive · first published 8 October 2026.

London's FTSE 100 closed down 0.2% at 10,441.60 on Thursday after Brent crude surged to $105.57 a barrel, its sharpest single-day jump in months. The White House has reportedly asked the Pentagon to examine strike options against Iranian targets, with action possibly timed before the November 3 midterm elections. The pound fell sharply against the dollar as bond yields climbed, with the US 10-year Treasury yield hitting 5.34%.

Two administration officials reportedly said the Pentagon has been directed to ready plans for renewed military action against Iran.

Yemen's Houthis launched missile strikes on Riyadh airport and told oil facility workers in Saudi Arabia to leave as hostilities across the region intensified.