Oil Prices Hold Above $100 Amid Ongoing Middle East Conflict
Global oil prices have remained above $100 per barrel as concerns over energy supplies continue to intensify due to the ongoing conflict in the Middle East. The prolonged situation has led market participants to re-incorporate a geopolitical risk premium into energy prices.
Brent crude oil traded at approximately $104.35 per barrel on September 11, 2026, while U.S. West Texas Intermediate (WTI) fell to around $99.07 per barrel, down 3.33 percent. Despite the intraday correction, both Brent and WTI are still heading for a weekly gain of more than 8 percent.
The Strait of Hormuz is a critical chokepoint in global energy trade, with about one-fifth of the world's daily oil and liquefied natural gas supply passing through it. The situation has dropped drastically, with preliminary vessel tracking data showing seven ships passing through on Thursday compared to 11 the previous day.