For the first time since July: oil price reaches $100

Global Brent crude oil prices have reached $100 per barrel for the first time since July 2026, amid escalating tensions between Iran and the US. The US destroyed five Iranian tankers, and Iran responded with missile strikes on bases in Jordan. The impact on gasoline prices in Israel is analyzed.

Global Brent crude oil prices have reached the $100 per barrel mark for the first time since July 2026. The increase occurred against the backdrop of a sharp escalation in the conflict between Iran and the US. On the night of September 9, the US destroyed five Iranian oil tankers: four in the Gulf of Oman and one off the Iranian island of Kharg. CENTCOM released a video of the burning tanker M/T Riesco. In response, Iran launched 20 ballistic missiles at US bases in Jordan; 18 missiles were intercepted, two landed in uninhabited areas, with no casualties. Iran also claimed to have struck two US vessels and eight oil tankers—these reports remain unconfirmed. The price increase had already begun before the night's events: on Tuesday, September 8, Houthi attacks on Saudi Arabia led to the shutdown of several energy facilities in the kingdom. The article details the mechanism by which global prices affect gasoline costs in Israel. It notes that the spike will not lead to an immediate increase at the pumps: the September price has already been set. An impact on the October price is possible only if high oil and gasoline prices in the Mediterranean persist by the end of September, when the Ministry of Energy conducts its next calculation. The pricing formula is tied to the price of finished gasoline in the region, not to crude oil, and includes excise tax and VAT.

For the first time since July: oil price reaches $100