Oil prices soar as Middle East conflict threatens prolonged supply disruptions

08 September, 2026, 10:00 pm

Last modified: 08 September, 2026, 10:00 pm

Oil prices soar as Middle East conflict threatens prolonged supply disruptions

08 September, 2026, 10:00 pm

Last modified: 08 September, 2026, 10:00 pm

Oil prices have surged to multi-week highs as escalating U.S.-Iran hostilities raise fears of prolonged conflict and severe supply disruptions. Brent crude climbed to $98.25 a barrel, while WTI reached $93.70. Shipping through the Strait of Hormuz has slowed, while analysts warn Persian Gulf oil supplies could remain constrained through 2026, with risks extending into 2027.

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