Commodities

Crude Oil Surges Past $100 Amid Strait of Hormuz Tensions

Guavy AI Editorial Team Published September 10, 2026

Instruments

Oil

The price of crude oil has surpassed $100 per barrel for the first time in recent history due to escalating fighting around the Strait of Hormuz.

This increase is likely to lead to higher prices at gas pumps, especially considering that this development comes just before a major inflation report.

NPR's Chief Economics Correspondent Scott Horsley notes that the benchmark price of crude oil has risen back above $100 per barrel.

The Wire

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