US strikes against five Iranian tankers have driven oil prices past $100 a barrel for the first time since July, as tensions between the two countries continue to escalate. The Brent crude price has not been this high since a ceasefire collapsed between Iran and the US in late July. The conflict has led to the effective closure of the Strait of Hormuz, which carries 20% of the world's oil and liquefied natural gas (LNG), and has sparked huge price leaps for petrol around the world. The article does not provide any specific analysis or opinion on the situation, but rather reports on the latest developments in the conflict.
Written by the local model on 2026-09-09,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
Oil prices surged past $100 per barrel on Wednesday after a series of attacks in the Middle East, with Brent crude futures trading at $99.93 a barrel and U.S. West Texas Intermediate crude at $94.52 a barrel. The price hike comes as tensions between the US and Iran continue to escalate, with the US striking five Iranian oil tankers on Tuesday and Iran launching missiles at US targets in Jordan.
Saudi Arabia reported that its energy infrastructure was attacked by the Houthis, causing temporary pauses in operations and injuring 73 civilians. Saudi Arabia is the world's largest oil exporter, and the attacks have raised concerns about the security of global oil supplies.
The Strait of Hormuz has become a key concern, with just four ships passing through the waterway on Saturday and six on Sunday. Before the war, the strait carried more than 20% of the world's energy supply as oil was shipped to ports around the globe.
In response to the attacks, the US Central Command said it destroyed five Iranian tankers, warning crews to abandon ship before striking. Iran has launched missiles at US targets in Jordan and warned tankers near Kuwait and Bahrain to evacuate.
The price of oil has been rising steadily since the start of the Iran war on February 28, with Brent crude surging as high as $126.41 a barrel on April 30. The global price of oil topped $100 a barrel for the first time since July, adding to uncertainty over future supply.
Meanwhile, a gallon of regular gasoline averaged $4.15 in the US on Tuesday, up 26% from a year ago.
Written for “Escalating Middle East Conflict” on 2026-09-09,
grounded in this article and the 74 other(s) covering the same event.
- Published
Oil prices rose past $100 (£74) a barrel on Wednesday after further strikes in the conflict between the US and Iran and continuing Houthi attacks in Saudi Arabia.
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prices → publish → Arabia
In back and forth attacks, the US hit five Iranian tankers in reprisal strikes after Tehran targeted one of its warships.
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Tehran → hit → warships
Brent crude - which is the global benchmark for prices - has not been as expensive since the end of July, when a ceasefire between Iran and the US collapsed.
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ceasefire → collapse → Iran
Yemen's Iran-backed Houthi movement also attacked oil facilities in Saudi Arabia on Tuesday and have been targeting tankers in the Red Sea.
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movement → back → Sea
Brent crude did dip back down to $99.90 a barrel, but any fresh flare-ups in the Middle East could see it pushed higher again.
uncertain
it → dip → East
The US strikes on the five Iranian tankers saw four in the Gulf of Oman linked to Iran's Revolutionary Guards Corps (IRGC) hit as well as another near Kharg Island.
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Corps → see → Island
Tehran responded by launching missiles at a US base in Jordan - most of which were shot down - and said it attacked two US vessels and eight oil tankers in the Strait of Hormuz.
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it → respond → Hormuz
The Houthis and Saudi Arabia have also been exchanging strikes since July after their own informal ceasefire unravelled.
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ceasefire → exchange → July
On Monday the Houthis accused Saudi Arabia of bombing a prison in al-Hazm and killing 11 people.
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Houthis → accuse → people
Then on Tuesday the Saudi authorities said Houthis had struck civilian and economic sites in the cities of Abha, Khamis Mushait, Jazan and Najran.
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Houthis → say → Abha
Tit-for-tat strikes between Iran and the US have escalated in the past week, more than six months after conflict broke out when the US and Israel launched attacks on Iran on 28 February.
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US → escalate → February
Oil prices have fluctuated wildly since the war began, and pressure on the industry has been exacerbated by wider regional instability.
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pressure → fluctuate → instability
Before the conflict Brent crude had been priced at about $70 (£52) a barrel.
But the war has seen the effective closure of the Strait of Hormuz, which carries 20% of the world's oil and liquefied natural gas (LNG).
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which → price → oil
The rising costs have sparked huge price leaps in petrol around the world for motorists at the pumps.
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costs → rise → pumps
The latest round of escalation comes after Iran targeted a US warship with ballistic missiles, which Centcom said were "successfully evaded".
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Centcom → come → missiles
It added that no American troops were harmed during the attacks.
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troops → add → attacks
In response, the US said that the five Iranian oil tankers it targeted were "part of a multi-billion-dollar shadow network that funds the IRGC and its regional proxies".
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that → say → IRGC
One of the ships it had struck, the M/T Riesco, sunk in the Gulf of Oman, Centcom later said, posting a video on X of the damaged vessel.
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Centcom → strike → vessel
Kharg Island - where one Iranian tanker was attacked in the latest round of US strikes - hosts Iran's main terminal for exporting oil.
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tanker → attack → oil
Some 90% of the country's crude oil passes through the island in the Gulf, transported through pipes from the mainland.
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% → pass → mainland
Also on Tuesday, Yemen's Iran-backed Houthi movement attacked energy facilities and civilian infrastructure in Saudi Arabia, injuring 73 people, according to Saudi authorities.
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movement → back → authorities
The drone and missile attack caused fires at oil facilities and installations that led to a temporary halt in operations, Saudi Arabia's military and energy ministry said.
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ministry → cause → operations
When asked by reporters about the latest tit-for-tat strikes between the US and Iran, US Secretary of State Marco Rubio on Tuesday said the situation was "pretty straightforward".
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situation → ask → Tuesday
"Iran continues to try to hit US naval ships.
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Iran → continue → ships
And, for every time they do that or try to do that, they're going to lose tankers.
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they → do → tankers
And I think you'll see that again today," Rubio told reporters during a trip in Colombia.
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Rubio → think → Colombia
The US strikes on Tuesday came hours after Iran's Navy claimed it had seized an uncrewed US submarine in the Strait of Hormuz.
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it → come → Hormuz
US Navy Capt Tim Hawkins, a spokesperson for Centcom, said that the "underwater drone operated by US forces malfunctioned more than a day ago" and was used to survey regional waters "in support of ongoing operations".
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drone → say → operations
The defective drone was "an older model that neither collected sensitive data nor carried any classified sonar or radar equipment", he said, adding that US operations in regional waters were ongoing.
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operations → collect → waters
