Oil Prices Are Once Again on the Brink of $100
Houthi attacks and U.S. strikes on Iranian tankers have pushed crude to a three-month high, traders said.
- On Tuesday, September 8, 2026, oil prices surged above $99 per barrel, reaching a three-month high as Houthi attacks on Saudi energy infrastructure and renewed Middle East tensions rattled global markets.
- Houthi missile and drone strikes on Saudi energy facilities, including the 400,000 b/d Jazan refinery, wounded 73 people, while U.S. strikes on Iranian oil tankers escalated regional conflict.
- Iran threatened to establish a maritime exclusion zone in the Gulf, potentially encompassing the UAE port of Fujairah and Oman's Sohar, while warning the White House of new ballistic missiles.
- Saudi Aramco reportedly delayed September oil cargoes to European buyers despite nominations rising to 1.3 million b/d, as Red Sea attacks disrupted exports and August loadings fell to 2.2 million b/d.
- OPEC+ maintained October production quotas unchanged after completing the rollback of its 1.65 million b/d voluntary cut, shifting focus toward a 2027 output baseline review amid Iran conflict constraints.
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42 Articles
Brent oil hits US$100 as U.S.-Iran war shows little sign of abating
Brent oil topped US$100 a barrel for the first time since July, as attacks between the U.S. and Iran and a recovery in Chinese oil buying propel the global crude benchmark higher. Futures rose as much as 2.3 per cent in London, before paring some of that gain. In the latest flare up in the Iran war, the U.S. military destroyed five Iranian tankers in response to attempts to hit a U.S. Navy warship with ballistic missiles overnight, Central Comma…
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Brent oil prices approached 100 US dollars after new attacks in the Middle East increased the risk of disruption to global oil supplies.
Oil prices rise again, with Brent touching $100. Oil prices rose further today in early Asian trading, with the barrel now touching $100, following fresh exchanges of blows in the Middle East, where the US military announced that it had attacked five Iranian oil tankers. At around 03:15 (Greece time), the price of a barrel of Brent North Sea crude for delivery in November rose 1.49% to $99.38. Yesterday it had reached as high as $99.46, before…
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