Brent oil passes $100 on Mideast flare-up

Harry Archie September 9, 2026

Brent crude oil has risen above $100 a barrel as fighting in the Middle East intensifies, raising fears of further disruptions to global oil supplies and adding to concerns about inflation.

Brent futures climbed as high as $100.95 a barrel on Wednesday, up nearly 3 per cent. It was the first time the benchmark had crossed the $100 mark since July 24.

The latest increase came as the conflict involving the United States and Iran widened, while Iran-backed Houthi fighters also attacked energy facilities in Saudi Arabia.

The attacks have increased concerns about oil supplies from the region, particularly through the Strait of Hormuz, a major route for global oil shipments.

Oil prices have now risen by about 25 per cent since early August as hopes of a lasting end to the conflict have weakened.

The rise in oil prices is also renewing fears of higher inflation. More expensive crude can increase the cost of fuel, transport, manufacturing and other goods, putting pressure on consumers and businesses.

The development could also make it harder for central banks to cut interest rates if higher energy costs push inflation further upward.

Analysts say the oil market has become increasingly vulnerable because supplies are already under pressure and spare production capacity is limited.

The International Energy Agency expects global oil supply to fall by about 4.3 million barrels per day this year, adding to concerns about the impact of any further disruption in the Middle East.

Markets are now watching the conflict closely, with investors worried that a prolonged disruption to oil supplies could keep energy prices high and make the global inflation problem worse.