Brent Crude Hovers Near $100 as Iran Tensions Escalate

Crude oil prices rose on September 8 as tensions between the US and Iran escalated, causing concerns about supply disruptions in the Middle East.

Brent crude was trading near $98 a barrel, while West Texas Intermediate (WTI) was above $93. The market weighed shrinking regional exports against signs that high prices are already curbing demand.

Iran has threatened further retaliation and disruption around the Strait of Hormuz, keeping a geopolitical premium embedded in crude prices.

Brent's technical structure remains constructive while it holds above the $92-$94 region. The immediate challenge is psychological resistance at $100, which could determine whether the latest geopolitical rally extends toward earlier highs.