Oil Prices Extend Gains, Brent Stays Above $100 a Barrel on Mideast Worries
Renewed tanker attacks and missile strikes lifted Brent above $100, raising fears of supply disruptions and higher fuel costs for consumers and businesses.
- On Thursday, September 10, 2026, British-produced Brent crude traded at around $103 per barrel, while American-produced WTI futures hovered near $98 as escalating United States-Iran tensions reignited oil markets.
- Tensions escalated after the United States Navy destroyed five Iranian crude oil tankers on Tuesday in retaliation for attempted attacks on an American warship, abruptly ending August's relative calm.
- Rising gasoline prices have climbed to $4.277 per gallon in the United States, stoking inflation fears and triggering losses across the EURO STOXX and the UK-based FTSE 100.
- The Bank of England warned that rising oil prices could push United Kingdom inflation above four per cent, while Hungary's opposition party proposed reintroducing a gasoline price cap.
- President Donald Trump stated, "I think the war's going to end immediately after the election because they can't hold out any longer," though White House advisers privately suggested the conflict could persist.
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70 Articles
Oil prices jumped more than six percent on Thursday, pushing both benchmarks, WTI and Brent, above $100 a barrel. The price increase was triggered by a series of attacks on shipping that were the most intense since the start of the Iran war, adding to fears of already tight supplies.
It occurs in a context of escalating conflict in the Middle East, which hinders its distribution
Brent crude and WTI rise, exceeding $100, due to the conflict in the Middle East and the closure of the Strait of Hormuz.Houthis advance in Yemen, complicating transit through Bab el Mandeb, while tension in the region continues to escalate.
The price of US light oil rose above $100 a barrel on Thursday for the first time since May.
Brent crude tops $105 a barrel as tanker attacks intensify in Middle East; Saudi output cut fuels concerns
Crude oil prices surged to their highest since May after Saudi Arabia reported a significant drop in production. Brent crude rose to about $106 a barrel, while WTI jumped to $95.39. The ongoing Middle East conflict is disrupting oil exports and contributing to market volatility.
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