Crude oil prices surged past the $100-per-barrel mark in international markets following heightened military tensions between the United States and Iran, alongside a series of drone and missile strikes by Yemen’s Houthi rebels targeting critical infrastructure in Saudi Arabia.
According to a report by the BBC, the price of Brent crude—the global benchmark—reached $100 per barrel during international trading on Wednesday (September 9, 2026), marking its highest level since July. Following retaliatory military actions between Tehran and the US Central Command (CENTCOM), several Iranian oil tankers were damaged near the Gulf of Oman and Kharg Island. In response, Iran claimed missile strikes on a US base in Jordan and attacks on US naval vessels and commercial oil tankers in the strategic Strait of Hormuz. Disruptions along this maritime passage, which handles nearly one-fifth (20%) of global crude oil and LNG supplies, have severely threatened market stability.
Concurrently, missile and drone attacks by Iran-backed Houthi rebels targeting civilian and energy infrastructure in the Saudi cities of Abha, Khamis Mushait, Jizan, and Najran injured dozens of civilians and forced the temporary shutdown of several fuel processing facilities. US Secretary of State Marco Rubio issued a stern warning, stating that any attacks on American vessels would trigger further military action against Iranian tankers. Market analysts warn that if supply chain disruptions persist, the global petrol and primary energy markets will face prolonged volatility.
