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Oil prices top $95 amid US-Iran tensions

02 September 2026 08:04 (UTC +04:00)

Global oil prices continued to rise amid escalating tensions between the United States and Iran.

Brent crude futures for November delivery rose by $0.75, or 0.79%, to $95.40 per barrel.

Meanwhile, West Texas Intermediate (WTI) crude futures for October delivery increased by $0.45, or 0.50%, to $90.67 per barrel.

The rise in oil prices comes as the United States and Iran continue to exchange strikes, fueling concerns over potential disruptions to global energy supplies.

Market participants are particularly concerned that the escalating military confrontation could further restrict oil shipments through the Strait of Hormuz, one of the world's most important energy transit routes.

Any significant disruption to shipments through the strategic waterway could tighten global oil supplies and put additional upward pressure on crude prices.