Brent Crude Surges Past $100 as West Asia Conflict Escalates

Brent crude prices have risen sharply due to escalating tensions in West Asia. The conflict has intensified, fueling concerns about oil flows from the region. Brent crude futures rose $2.15, or 2.2%, to $100.07 a barrel on September 9, 2026, breaching the symbolic barrier for the first time since July 24.

The recent attacks by Iran-backed Houthis on Saudi energy facilities have set oil installations ablaze, threatening a significant expansion of the conflict. The Houthi attacks could threaten crude shipments via the Red Sea, which has been a key alternative route to the crucial Strait of Hormuz, where crude flows have been severely curtailed since the February 28 start of the Iran war.

A growing number of banks, including Goldman Sachs, Bank of America, and HSBC, have raised their crude price forecasts in recent days. The International Energy Agency has also predicted that global oil supply will fall this year by 4.3 million barrels per day, or about 4%.