{
  "id": 6665532,
  "title": "Oil surges 6%, Brent and US crude both surpass US$100 on more tanker attacks",
  "url": "https://urgent.news/2026/09/10/oil-surges-6-brent-and-us-crude-both-surpass-us-100-on-more-tanker-6665532",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-10T21:56:11.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/international/global/oil-surges-6-brent-and-us-crude-both-surpass-us100-more-tanker-attacks"
  },
  "original_language": "en",
  "account": "Oil prices surged over 6 percent on Thursday (Sep 10), with both major benchmarks trading above US$100 a barrel due to a series of tanker attacks, intensifying concerns over potential further disruptions to already limited supplies. Brent crude futures rose by US$6.42, representing a 6.34 percent increase, settling at US$107.63 a barrel. West Texas Intermediate crude futures surged US$6.43, marking a 6.69 percent rise, to US$102.48 a barrel. Both benchmarks marked their highest levels since May 19 and recorded their steepest gains in nearly two months. Iran-aligned Houthis gained control of Yemen's Mocha port, posing an additional threat to Red Sea traffic. Meanwhile, restrictions on Gulf traffic persist due to continuous tanker attacks in the region, which have become more frequent in recent days. Simon-Peter Massabni, head of business development at XS.com, noted that the threat now extends beyond a single choke point, encompassing potential disruptions to regional export routes, oil production sites, and other energy infrastructure. US President Donald Trump suggested that the US might target Iran's Pickaxe Mountain near its heavily damaged Natanz uranium enrichment facility, with the war expected to persist beyond the November midterm elections. Iran retaliated by claiming it attacked 10 ships near the Strait of Hormuz, following the US strike on five Iranian oil tankers. Iran's Islamic Revolutionary Guard Corps vowed to intensify its response to any additional attacks. A recent analysis from S&P Global Energy suggests that with a lack of clarity on a resolution to the Iran conflict and Brent crude prices recently surpassing US$100 for the first time since July, crude oil markets are now navigating a prolonged period of risk persistence rather than episodic disruptions. Analysts emphasized that the sustainability of this rally will depend on China, the world's largest crude importer. China has increased purchases in recent weeks after months of subdued demand, boosting physical crude markets, according to ING analysts. Should China's buying continue to rebound, it could magnify the effects of any supply interruptions and propel prices higher. Conversely, a decline in Chinese imports might temper market gains. US crude oil inventories declined by 391,000 barrels to 424.1 million barrels last week, as refining activity showed continued strength, according to the Energy Information Administration. Analysts had anticipated a 1.55-million-barrel draw. Opec reduced its forecast for world oil demand growth in 2026 to 380,000 barrels per day, marking the fifth consecutive downward revision in their monthly report. Opec's oil output decreased by 640,000 barrels per day in August, as revealed by a Reuters survey, primarily due to new disruptions caused by the Iran war and a US blockade hindering Iran's shipments.",
  "summary": "Both oil benchmarks hit their highest since May 19",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Oil surges 6%, Brent and US crude both surpass US$100 on more tanker attacks",
        "url": "https://urgent.news/2026/09/10/oil-surges-6-brent-and-us-crude-both-surpass-us-100-on-more-tanker",
        "published": "2026-09-10T21:56:11.000Z"
      }
    ]
  },
  "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."
}