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Brent Crude Oil Prices Soar Amid Middle East Geopolitics and Supply Disruptions

Guavy AI Editorial Team Published September 24, 2026

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Oil

Brent crude oil prices surged on September 24, reaching $100.48 as of 04:15 ET, a 2.12% increase for the day.

The price hike was driven by renewed supply-side disruptions and geopolitical tensions in the Middle East, outweighing recent diplomatic hopes.

Iranian leadership reaffirmed that shipping access through the Strait of Hormuz would remain restricted, while naval blockades and sanctions persist.

A sudden operational shutdown at Libya's El Sharara oil field further exacerbated concerns over immediate physical availability.

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