Oil price rises above $100 as tanker attacks deepen supply fear

Oil prices held firm on Thursday, September 10, 2026, after Brent crude breached $100 a barrel, with traders ​bracing for deeper supply disruptions as Iran and the United States ‌launched their largest attacks on shipping since their six-month-old conflict began.

Brent crude futures inched lower by 0.1% to $101.10 a barrel by 0256 GMT. U.S. West Texas Intermediate crude was at $96.24 ​a barrel, up 0.2%.

Oil prices held firm on Thursday after Brent crude breached $100 a barrel, with traders ​bracing for deeper supply disruptions as Iran and the United States ‌launched their largest attacks on shipping since their six-month-old conflict began.

Brent crude futures inched lower by 0.1% to $101.10 a barrel by 0256 GMT. U.S. West Texas Intermediate crude was at $96.24 ​a barrel, up 0.2%.

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Iran said on Wednesday it had attacked 10 ships near the Strait of Hormuz ​after the U.S. sank five Iranian oil tankers, and Iran’s Islamic Revolutionary Guard Corps said it would escalate its response to any further attacks.

“The tit-for-tat attacks suggest oil flows from the ​Persian Gulf are likely to remain disrupted for the foreseeable future,” ANZ ​analyst Daniel Hynes said in a client note.

Oil flows through the Strait of Hormuz, the waterway that ‌before ⁠the war carried roughly a fifth of global oil and gas supplies, remain far below pre-war levels.

Pressure is mounting on alternative channels for Gulf oil exports, with Iran-aligned Houthi militants stepping up strikes against Saudi Arabia, threatening crude shipments via ​the Red Sea.