World NewsNewsSeptember 8, 2026
Oil Climbs Toward $100 as Middle East Supply Risks Intensify
Brent crude climbed to around $97.34 a barrel Tuesday, while U.S. crude reached about $92.63 as traders priced in the possibility of prolonged disruption from the U.S.–Iran confrontation. Analysts increasingly expect Persian Gulf supply constraints to persist through the remainder of 2026.
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Sustained oil prices near or above $100 could affect virtually every major economy through higher transportation, manufacturing and food costs. It could also complicate central-bank plans by reviving inflation just as markets anticipate possible interest-rate increases.
Markets will watch Hormuz shipping movements, Iranian threats against regional energy infrastructure and upcoming U.S. inflation data. Goldman Sachs has already raised its year-end oil-price forecasts by $5 amid the heightened geopolitical risk.
Middle East conflict disrupts normal Gulf shipping
Sep 5: U.S. attacks Iranian tankers
Sep 7: Brent reaches a six-week high
Sep 8: Brent trades around $97, with supply concerns increasing
Goldman Sachs raises its year-end forecasts
Next: Markets watch whether Gulf supply constraints persist into 2027
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1. reuters.comView Original
