Oil Prices Soar Amid Ongoing Iran War Uncertainty
US oil and gas production has seen a rise in the third quarter of 2026, according to the Dallas Fed survey. The increase occurred in key producing states such as Texas, Louisiana, and New Mexico.
The Iran war continues to affect energy markets, causing uncertainty for producers. US oil prices have reached $100 a barrel due to disruptions in global supplies and shipping routes.
US crude futures have been volatile over the last three months, averaging around $86 a barrel in the third quarter. Prices swung from a low of $67 in early July to a high of $107 in mid-September.
A respondent to the survey expressed concern about predicting future market conditions, stating 'We are getting to the point in this global conflict and its effect on commodity markets that it is tough to predict what the remainder of 2026 and also 2027 will potentially look like.'