Oil Prices Surge Amid US-Iran Tensions in Strait of Hormuz

Sep 9, 2026

59 min

Sep 9, 2026 00:30

Oil climbs as US-Iran strikes in Hormuz raise supply fears — Brent near $98, Murban jumps to $110.80

## Rising Oil Prices

Oil prices have surged as tensions between the US and Iran escalate, threatening the crucial Strait of Hormuz. On September 9, 2026, Brent crude reached nearly $98 per barrel, while Murban crude jumped to $110.80. This increase follows US military strikes on Iranian oil tankers, raising fears of supply disruptions.

## US-Iran Conflict

The US military reportedly destroyed five Iranian crude carriers after Iran's Revolutionary Guard attempted missile attacks on a US Navy ship. The targeted tankers were located in the Gulf of Oman and near Kharg Island, a key Iranian oil-export hub. These actions are seen as retaliatory but also aim to pressure Iran economically.

## Iran's Response

In response, Iran's Revolutionary Guard warned oil tankers near Bahrain and Kuwait to evacuate, citing potential retaliation. This warning extends the conflict's impact to commercial shipping, potentially affecting global oil supply and increasing shipping costs.

## Strategic Importance of Hormuz

The Strait of Hormuz is a vital passage for global oil transport. Any threat to vessels in this region could significantly impact crude flow from the Persian Gulf, contributing to the rising oil prices. The situation remains tense, with potential for further disruptions.

Read the full story at the source

What you need to know to get Emirates ID?

Leave your details and get a guide as a gift to avoid mistakes

Article contents

LinkedIn X Facebook WhatsApp Telegram