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Oil Prices Top $100 as U.S. -Iran Fighting Disrupts Supplies
By Aurax News| September 10, 2026 | 2 min read
Global oil prices have risen above $100 a barrel as escalating U.S.-Iran attacks disrupt shipments through the Strait of Hormuz. The surge is raising concerns about higher fuel and transportation costs as the conflict continues.
Oil shipments through the Strait of Hormuz face growing disruption amid escalating U.S.-Iran military attacks.
Brent crude rose above $100 a barrel this week for the first time since July as renewed military action between the United States and Iran increased concerns about global energy supplies. Brent reached $101.52 a barrel in early Thursday trading after gaining 3.4% on Wednesday, while U.S. benchmark West Texas Intermediate crude rose to about $96.42. The increases have followed attacks involving oil tankers and growing disruption around the Strait of Hormuz, a major route for global oil shipments.
The higher oil prices are already feeding into fuel costs, with U.S. gasoline averaging about $4.22 a gallon and diesel reaching a record $5.94, according to AP. Rising energy costs could also increase transportation, manufacturing and food expenses if elevated prices persist, adding pressure to economies already dealing with inflation. Financial markets have responded to the renewed uncertainty, with major U.S. stock indexes declining Wednesday as investors assessed the potential economic impact of the conflict
President Donald Trump said Wednesday that oil prices likely would not fall until after the November midterm elections and again indicated that he expects the conflict with Iran to end after the vote. The comments come as military activity continues around the Strait of Hormuz, leaving the duration of the disruption uncertain and keeping global energy markets on edge.
Sources: Associated Press, CNN and NBC News.