24 Hrs
Source:
الوئام
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Oil Hits Over $90 per Barrel
In September 2026, U.S. oil prices exceeded $90 per barrel for the first time since July, driven by escalating military confrontation between the United States and Iran. Iran launched attacks against American targets in the Gulf and threatened a harsh retaliation. The rising tensions sparked fears in the markets of a potential closure of the Strait of Hormuz and its impact on global oil supplies, leading to a 5.2% increase in West Texas Intermediate (WTI) crude prices. Additionally, the surge in oil prices raised concerns over increasing inflation and caused global sovereign bond yields to reach their highest levels in about two decades. These developments are part of an upward trend in oil prices, which have risen by more than 55% since the beginning of the year amid failed diplomatic efforts and escalating on-the-ground operations in the region.
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