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Oil price passes $100 as Middle East conflict escalates

The gist

Brent crude surged past $100 a barrel on Sept 9, settling at $101.21.
The move raises fuel costs and inflation risk for households worldwide.

How it unfolded

  1. Feb 28, 2026The US and Israel attacked Iran, starting a war that has greatly curtailed Persian Gulf oil exports.
  2. Apr 30, 2026Brent crude reached its peak of $126.41 a barrel.
  3. Jul 24, 2026Brent last breached the $100 threshold before the current move.

Sources

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