Brent climbs to $99.49 a barrel as Iran targets U.S. assets; banks flag $120 risk
AI Market Summary
Brent and WTI extended gains as Iran's attacks on U.S. assets and U.S. retaliation against Iranian tankers heightened Middle East supply and shipping disruption risk. With policymakers signaling continued escalation and banks highlighting sensitivity to duration of disruptions and potential Strait of Hormuz constraints, risk premia are rising across crude benchmarks. Near-term volatility is likely to increase alongside broader energy-linked inflation concerns.
Impact level
● High
Affected assets
NCCO1OILBRENT2USD/USDT+0.22%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
▲ Bullish
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International oil prices rose for a fourth session on September 9, with Brent crude futures at $99.49 a barrel and WTI at $94.63. Iran’s Revolutionary Guards launched a fresh round of attacks on U.S. destroyers and a U.S. base in Jordan, describing the strikes as retaliation for U.S. action against Iranian oil tankers. Goldman Sachs warned crude could reach $120 a barrel if attacks on Middle East shipping intensify, while JPMorgan said each additional month of supply disruption could add $7 to $8 a barrel to Brent.
