Brief by Shorts91 Newsdesk / 03:10am on 09 Sep 2026,Wednesday Business
Oil prices climbed sharply on Wednesday as escalating US-Iran tensions raised concerns over possible disruptions to Middle Eastern energy supplies. West Texas Intermediate crude futures for October delivery rose 1.75% to $94.66 a barrel, while Brent crude gained 1.55% to $99.44. The increase followed US strikes that destroyed five Iranian crude oil tankers on Tuesday after Washington said Iran had attempted attacks on an American warship. US Central Command said the warship evaded the attacks and no US personnel were injured. The latest escalation has heightened concerns that oil could rise above $120 a barrel if attacks on shipping continue. Goldman Sachs commodities researcher Daan Struyven said such a price level was “definitely plausible”. (PC: X)
