{
  "id": 6177805,
  "title": "Oil prices rise to six-week highs on worsening Middle East conflict",
  "url": "https://urgent.news/2026/09/07/oil-prices-rise-to-six-week-highs-on-worsening-middle-east-conflict-6177805",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-07T22:00:05.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/energy-commodities/oil-prices-rise-six-week-highs-worsening-middle-east-conflict"
  },
  "original_language": "en",
  "account": "Oil prices surged to a six-week peak of US$97.31 a barrel on Monday (Sep 7) as Iran vowed to target energy infrastructure in the Middle East in response to further US attacks on its assets. Brent crude futures climbed 1.1% to the highest level since July 24, while US West Texas Intermediate crude increased 1.3% to US$92.65 a barrel. Iranian Parliament Speaker Mohammad Baqer Qalibaf declared, \"Strike our assets and you get struck,\" in apparent retaliation to US Defence Secretary Pete Hegseth's warning that Teheran's oil fleet was \"defenceless.\" The US and Iran have been trading attacks on oil tankers and warships, intensifying the conflict that began in February. The war has severely impacted global oil supply, prompting countries to use up reserves to prevent deficits. US inventories of petrol and distillate fuel are notably below year-ago and five-year seasonal averages. Saudi Aramco's Jazan oil refinery also faced an attack, and an average of 10 commodity ships passed through the Strait of Hormuz daily, the lowest since May. Iran plans to establish a restricted zone outside the Strait of Hormuz, and the UAE is constructing alternate routes for its energy exports to avoid being \"held hostage\" by the ongoing war between the US and Iran. Opec+ maintained its oil output policy unchanged for October, awaiting new quotas before deciding on further actions.",
  "summary": "Oil prices may rise as high as US$120 a barrel if attacks on shipping rise, Goldman Sachs says",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 5,
    "also_reported_by": [
      {
        "outlet": "CNA - Business",
        "title": "Oil prices rise to six-week highs on worsening Middle East conflict",
        "url": "https://urgent.news/2026/09/07/oil-prices-rise-to-six-week-highs-on-worsening-middle-east-conflict",
        "published": "2026-09-07T11:31:28.000Z"
      },
      {
        "outlet": "FXStreet",
        "title": "WTI Oil climbs as Middle East supply risks remain evelated",
        "url": "https://urgent.news/2026/09/07/wti-oil-climbs-as-middle-east-supply-risks-remain-evelated",
        "published": "2026-09-07T15:12:59.000Z"
      },
      {
        "outlet": "CNBC World",
        "title": "CNBC Daily Open: Rising tensions — from North America to the Middle East",
        "url": "https://urgent.news/2026/09/08/cnbc-daily-open-rising-tensions-from-north-america-to-the-middle-east",
        "published": "2026-09-08T01:08:11.000Z"
      },
      {
        "outlet": "Straits Times Business",
        "title": "Oil rises as risks of prolonged Mid-East conflict heighten supply worries",
        "url": "https://urgent.news/2026/09/08/oil-rises-as-risks-of-prolonged-mid-east-conflict-heighten-supply",
        "published": "2026-09-08T01:38:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}