Crude Oil Prices Set to End Week Above $100 as Middle East Supply Risks Escalate | September 11, 2026

Crude Oil prices climbed on Friday, September 11, 2026, with Brent crude and US West Texas Intermediate (WTI) on track to finish the week above $100 a barrel for the first time in nearly four months. Growing attacks along major shipping routes in the Middle East have heightened concerns over prolonged disruptions to crude supplies. 

Brent crude futures rose $1.05, or 1%, to $108.68 a barrel by 0045 GMT, while WTI crude gained 95 cents, or 1%, to $103.45. Both benchmarks jumped more than 6% on Thursday. On a weekly basis, prices were up nearly 13%, marking their strongest weekly gain since the week ended July 17. 

Middle East Shipping Risks Intensify 

Iran-aligned Houthis seized control of Yemen's port of Mocha on Thursday, adding to concerns over traffic through the Red Sea. Shipping through the Strait of Hormuz also remains restricted as tanker attacks have increased in recent days. 

Attacks on Saudi energy facilities have further widened the conflict beyond Iran and the Strait of Hormuz, increasing concerns over supply disruptions across the region. 

US-Iran Conflict Adds to Supply Concerns 

US President Donald Trump warned that the United States could target Iran's Pickaxe Mountain, near the damaged Natanz uranium enrichment facility. Iran said it had attacked 10 ships near the strait on Wednesday after the US struck five Iranian oil tankers. Iran's Islamic Revolutionary Guard Corps also warned of a stronger response to further attacks. 

Supply pressures are also being felt in the United States. The national average diesel price crossed $6 a gallon for the first time, according to GasBuddy, as the conflict with Iran and Ukrainian attacks on Russian refineries have reduced available supplies. 

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China Demand and OPEC Outlook in Focus 

China's crude purchases remain important for the oil market as the world's largest crude importer. Continued buying could add to the impact of supply disruptions and provide further support to prices. 

Meanwhile, OPEC cut its forecast for global oil demand growth in 2026 to 380,000 barrels per day, marking the fifth consecutive downward revision. OPEC oil output also fell by 640,000 barrels per day in August, according to a Reuters survey. 

Conclusion 

Oil prices remain above $100 as attacks on energy infrastructure and key shipping routes raise concerns about supply availability. The direction of prices will depend on developments in the Middle East, shipping conditions and crude demand from major importing countries. 

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