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Commodities

PTT Sees Dubai Crude at $95-105 Amid Escalating Middle East Tensions

Guavy AI Editorial Team
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Oil
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Global oil markets were affected by opposing forces in September 2026. Geopolitical risks in the Middle East supported prices, while an interest rate rise by the US Federal Reserve weighed on investment sentiment and energy demand.

PTT Group's oil price analysts said Dubai crude remained volatile at elevated levels during the month, trading between $99-128 a barrel and increasing from August 2026. Geopolitical risks in the Middle East were the main support for prices, affecting key energy transport routes such as the Strait of Hormuz, the Bab el-Mandeb Strait, and Saudi Arabia's East-West pipeline.

The Federal Reserve's rate increase strengthened the US dollar, dampening investment sentiment and raising concerns about energy demand. However, markets remain hopeful about diplomatic negotiations to address tensions in the region.

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