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Oil prices rise above $107 amid Middle East tensions

Published : Friday, 11 September, 2026 at 6:35 PM

Observer online report

Global oil prices rose above $107 a barrel on Thursday amid growing concerns over supply disruptions following intensified fighting in the Middle East.

Brent crude, the global benchmark, settled at $107.63 a barrel, up 6.34 per cent and its highest level since May 19, according to Reuters.

US West Texas Intermediate (WTI) crude rose 6.69 per cent to $102.48 a barrel, also reaching its highest level since May.

The price surge followed the seizure of Yemen’s port city of Mocha by Iran-aligned Houthi rebels and intensified attacks on shipping in and around the strategic Bab el-Mandeb and Hormuz straits.

The developments have heightened fears of further disruptions to global oil supplies.

sks

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Editor : Iqbal Sobhan Chowdhury

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