Crude oil futures continued to rally on Thursday, as Brent rose by more than 3%, erasing losses from the previous session, while investors anticipated further developments in the military conflict between Washington and Tehran. Following Republicans’ major loss in the United States midterm elections earlier this week, investors are unsure how the war in Iran will progress. Additionally, Israel is allegedly preparing for the possibility that Iran could launch a preemptive strike soon. The West Texas Intermediate for December deliveries jumped 2.35% to go for $90.19 per barrel at 8:08 am ET. Meanwhile, Brent for the settlements in January 2027 soared 3.14% and went for $97.59 per barrel at the same time.