Oil jumps above $107.. Middle East tensions shake markets

Oil prices surged sharply on Monday, exceeding $107 for Brent crude, driven by escalating tensions in the Middle East and supply disruption fears. Saudi Arabia temporarily closed a pipeline after drone attacks, an Iranian ship was attacked in the Strait of Hormuz, and Oman postponed a regional meeting on navigation.

Oil prices surged sharply on Monday, September 14, 2026, exceeding $107 per barrel, driven by escalating tensions in the Middle East and fears of energy supply disruptions. Brent crude for November delivery rose 2.8% to $107.54 per barrel, while West Texas Intermediate crude for October delivery rose 2.3% to $102.34. Attention is focused on security developments in the Gulf region and the Strait of Hormuz. In Saudi Arabia, an east-west pipeline was temporarily closed following drone attacks. An Iranian commercial vessel was attacked in the Strait of Hormuz on Sunday, resulting in one death. Iran currently requires ships to obtain permission for transit and is considering imposing fees. Oman announced the postponement of a planned meeting between Iran and Gulf states to discuss the future of navigation in the strait. Investors are watching developments amid fears of continued pressure on global oil supplies.