Oil Surges Past $100 as West Asia Strikes Hit Tankers, Saudi — SkimNews
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- Brent crude settled at $97.89 before jumping 2.4% to $100.29 early Wednesday, September 9, 2026, crossing $100 for the first time in almost six weeks following attacks on West Asian oil infrastructure.
- US benchmark crude gained 1.9% to $94.77 a barrel as markets reacted to the US military striking five Iranian tankers in response to attempted missile attacks on a Navy warship.
- Iranian-backed Houthi rebels ignited fires at oil facilities in Saudi Arabia, adding to supply-chain strain already weakened by the broader US-Iran conflict.
- India condemned the Houthi attacks on Saudi oil installations, according to a linked dispatch from the source, framing New Delhi's stake in stable Gulf energy flows.
- Brent fluctuated between roughly $70 and $100 from March through May, then swung between $72 and $102 in July, reflecting volatile hopes that the US and Iran would reach a deal to release stranded Persian Gulf tankers.
- US gasoline prices averaged $4.15 a gallon on Tuesday, September 8 — up 26% from a year earlier — while diesel hit $5.90 a gallon, a 59% year-over-year increase, per AAA.
- Iran warned that US energy assets in the Gulf remain vulnerable following the latest clashes, signaling an escalatory posture rather than de-escalation despite the tanker-strike exchange.
- The US Navy came under attempted Iranian missile attack, prompting the five-tanker retaliation that drove the latest oil-price spike.
Why it matters: US consumers are already paying 26% more at the pump than a year ago and 59% more for diesel, so any sustained push above $100 crude translates directly into household energy costs; meanwhile, Iran's warning that Gulf energy assets remain vulnerable suggests the supply premium is structural, not a one-day spike, as the tanker-strike-and-counterstrike cycle shows no sign of cooling.
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