Global energy market volatility due to Middle East conflict
Story essentials
Global energy markets
Middle East
September 2026
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Oil Prices Surge Amid Middle East Conflict Escalation
Brent crude futures breached $100 a barrel due to escalating military strikes in the Middle East. Attacks on tankers and energy facilities have disrupted oil flows through the Strait of Hormuz. One seafarer was killed in an attack on the tanker Hercules Star off Dubai. Flows through the Strait of Hormuz have dropped significantly to below 2 million barrels per day.