Iran's Nuclear Treaty U-Turn Sends Oil Prices Soaring
A member of Iran's parliament has stated that Tehran no longer considers itself bound by the Nuclear Non-Proliferation Treaty, which could have significant implications for oil prices and global markets. Mohseni-Sani, a member of the National Security and Foreign Policy Committee, made this statement on September 12, 2026, just ten days into the current round of US strikes against Iran.
The price of Brent crude has already risen by $13.49 per barrel in eight sessions, from $96.02 to $109.51, due to concerns over oil supply disruptions and the Strait of Hormuz risk premium. However, gold prices have fallen to $4,318.89 an ounce on September 11, 2026, down from $4,683.72 on August 25, which is unusual given that gold typically climbs when war risk rises.
The statement's impact on Bitcoin and cryptocurrency markets is uncertain, but it could potentially influence Fed policy and interest rates if oil prices continue to rise. The VIX closed at 17.84 on September 10, up 16.8% from a month earlier, but still within its normal range of 15 to 20.