Brent crude has climbed to about $98 as the U.S. and Iran trade tanker strikes. Will it settle above $100 a barrel by Sept 11?
72% of users predicted YES — the community got this one right. 18 predictions cast.
Brent crude, the global oil benchmark, closed at $101.21 a barrel on September 9, 2026, rising 3.36% on the day and crossing $100 for the first time since July. The move followed a sharp escalation in the U.S.-Iran conflict: U.S. Central Command confirmed strikes that destroyed five Iranian oil tankers in the Gulf of Oman and near Kharg Island, while Iran said it responded by attacking vessels near the Strait of Hormuz. Iran-aligned Houthi forces had separately struck Saudi Arabian oil infrastructure days earlier, compounding supply concerns.
Traders pushed prices higher on fears that continued tanker strikes and threats to shipping through Hormuz, a chokepoint for roughly a fifth of global oil flows, would constrain supply. Brent held above $100 in the following sessions as both sides signaled further retaliation.
This built on a summer of rising energy costs tied to the broader U.S.-Iran confrontation, which had already pushed U.S. diesel and gasoline prices to records. The threshold was cleared several days before the September 11 deadline, consistent with the trajectory traders had been pricing in since the conflict intensified in late August.
The Predict Six community largely anticipated this outcome, with 72% forecasting Brent would settle above $100, matching the eventual result.