- September 8, 2026
- Posted by: Tresmark
- Category:
Oil prices surged to their highest levels in six weeks on Monday as escalating tensions in the Middle East raised fresh concerns over potential disruptions to regional energy supplies.
Brent crude futures gained $1.03, or 1.1%, to settle at $97.31 per barrel, after touching an intraday high of $98.06—the strongest level since July 24.
Market sentiment was driven by Iran's warning that it could target energy infrastructure across the Middle East if the United States launches further attacks on Iranian assets. The threat has added to concerns surrounding an ongoing conflict that has already significantly disrupted oil supplies from the region.
Meanwhile, rising tensions following Israeli strikes in southern Lebanon have further heightened geopolitical risks. Shipping activity through the Strait of Hormuz has also fallen to its lowest level since May, according to Kpler data, underlining concerns about the security of a key global oil transit route.
Adding to the market focus, OPEC+ maintained its existing oil production policy for October, offering no immediate changes to supply plans amid heightened uncertainty in global energy markets.
