Oil prices soar 14% in October to end at 6-month high as US weighs fresh attacks after midterm elections. More upside ahead?

Brent crude rose 13.6% in October to settle at a six-month high of $117.64 a barrel, as fears of fresh US strikes on Iran and threats to shipping through the Strait of Hormuz fuelled supply concerns. Analysts warn of further volatility, with Goldman Sachs flagging a possible rise to $120.