Oil nears $100 as fresh Middle East strikes raise supply risks
Sunset clouds glow over pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau region, Kazakhstan, April 21, 2026. REUTERS/Pavel Mikheyev
Read a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
NEW DELHI, Sept 9 : Oil prices rose for the fourth straight session, gaining more than $1 in early trade on Wednesday after renewed attacks across the Middle East heightened worries about supply disruptions.
Brent crude futures rose 1.4 per cent, to $99.33 a barrel by 0212 GMT, while U.S. West Texas Intermediate crude was at $94.34 a barrel, up 1.4 per cent.
Brent crude prices have jumped by a quarter since early August as hopes for a permanent resolution to the six-month-old war faded and as fighting flared again, with prices fast approaching the key $100-a-barrel mark.
The Middle East war intensified on Tuesday with Iranian-backed Houthis in Yemen launching strikes on several Saudi cities, further embroiling a U.S. ally in the conflict.
Guess Word
Crack the word, one row at a time
Buzzword
Create words using the given letters
Mini Sudoku
Tiny puzzle, mighty brain teaser
Mini Crossword
Small grid, big challenge
Word Search
Spot as many words as you can
The U.S. forces hit multiple Iranian oil tankers and Iran targeted a U.S. base in Jordan.
“Recent developments only reinforce the view that we are still some way from a restart in (peace) talks. In the meantime, the market is likely to continue to price in a sizeable risk premium,” ING analysts said in a note.
The latest attacks threaten to deepen disruptions to Middle East oil supplies, already strained by strikes on regional energy infrastructure and key shipping lanes.
While Saudi Arabia has diverted some exports away from the Strait of Hormuz, any sustained attacks on the kingdom could complicate efforts to keep crude flowing to global markets, analysts said.
“Iran’s attacks on Saudi energy facilities and the subsequent destruction of five Iranian tankers raised concerns about another prolonged disruption to oil supplies,” OCBC analysts said in a note.
Source: Reuters
Sign up for our newsletters
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
