Oil surges above $100 a barrel as US and Iran launch new attacks, while gasoline prices also jump
Brent crude oil prices have surpassed $100 per barrel following a wave of attacks between the United States and Iran. Prices reached $108 for the first time since May as the U.S. destroyed Iranian oil tankers and Tehran retaliated with missile strikes. This spike has pushed gasoline and diesel prices higher and triggered a downturn in global stock markets, including the Dow, S&P 500, and Nasdaq. Wall Street is now focused on renewed inflation concerns and the potential for a U.S. interest rate increase.
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- ✓ Brent crude oil prices have risen above $100 per barrel.
- ✓ The U.S. destroyed Iranian oil tankers.
- ✓ Iran fired missiles in retaliation for the destruction of tankers.
- ✓ Gasoline and diesel prices have increased.
What changed
Oil prices climbed from $100 to $108 as the U.S. destroyed Iranian tankers and Iran launched retaliatory missiles.
Live updates
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Oil Surges Past $100 as US-Iran Conflict Escalates
Brent crude oil prices have surpassed $100 per barrel following a wave of attacks between the United States and Iran. Prices reached $108 for the first time since May as the U.S. destroyed Iranian oil tankers and Tehran retaliated with missile strikes. This spike has pushed gasoline and diesel prices higher and triggered a downturn in global stock markets, including the Dow, S&P 500, and Nasdaq. Wall Street is now focused on renewed inflation concerns and the potential for a U.S. interest rate increase.
Why it matters
The conflict centers on military strikes targeting energy infrastructure and tankers in the Gulf. Sustained high energy costs are creating political pressure for the GOP ahead of midterm elections. Increased crude purchases by China are also contributing to the upward price trend.
What is confirmed
- Brent crude oil prices have risen above $100 per barrel.
- The U.S. destroyed Iranian oil tankers.
- Iran fired missiles in retaliation for the destruction of tankers.
- Gasoline and diesel prices have increased.
- The Dow, S&P 500, and Nasdaq declined as oil prices surpassed $100.
- Treasury yields have increased.
Still unconfirmed
- Oil prices jumped to $105, increasing the likelihood of a U.S. interest rate hike.
What to watch next
- Further military escalations in the Gulf
- U.S. Federal Reserve decisions on interest rates
- Midterm election polling shifts linked to energy costs
confidence 90%Sources used for this update (20)
- cnbc.com — Stock futures are little changed after losing session; Brent crude tops $99 per barrel: Live updates
- AP News — Oil rises past $100 a barrel after the latest wave of Middle East attacks
- WBAL-TV — Brent crude oil tops $100. Here's what that means for U.S. oil prices
- MarketWatch — Oil’s return above $100 a barrel puts inflation back at the center of Wall Street’s concerns
- CBS News — Iran War Updates: Oil tops $100 per barrel as Tehran fires missiles in retaliation for U.S. blowing up tankers
- Yahoo Finance — Stock market today: Dow, S&P 500, Nasdaq sink as oil prices surpass $100, Treasury yields jump
- Politico — ‘Nothing worse’: Energy prices are closing in on GOP’s midterm chances
- WOODTV.com — Oil surges above $100 a barrel as US and Iran launch new attacks; gasoline prices also jump
- Bloomberg — Oil Climbs as China Crude Purchases Rise
- CNBC — Oil extends gains, with Brent above $101 after U.S. destroys Iranian oil tankers
- Investopedia — Markets News, Sept. 9, 2026: Stocks Finish Lower for 3rd Straight Session; 10-Year Treasury Yield Hits Highest Level Since 2023; Oil Tops $100 a Barrel
- reuters.com — Brent holds above $100 as tanker attacks deepen supply fear
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