Oil prices climbed toward their steepest weekly gain since mid-July 2026 as renewed US-Iran tensions escalated concerns over Middle East supply disruptions and shipping risks. The escalation drove crude prices higher on September 3–4, 2026.
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Oil prices rose toward their steepest weekly gain since July as renewed U.S.-Iran hostilities increased concern about Middle East supply risks and disruptions to shipping through the Strait of Hormuz. Brent traded around $96 a barrel on September 4, while West Texas Intermediate was near $92; Brent was up more than 7% for the week and WTI was nearly 10% higher in market reports sourced to Reuters
Oil prices rose Friday and headed for their steepest weekly gain since mid-July as renewed US-Iran hostilities intensified concerns over Middle East supply risks and possible disruption to energy flows through the Strait of Hormuz [aawsat.com#1][skynewsarabia.com#1][omannews.gov.om#1][brecorder.com#1][aaj.tv#1][energyconnects.com#1][bloomberg.com#1][bloomberg.com#2][thehindubusinessline.com#1]. Br
Oil prices climbed on Friday, nearing their largest weekly gain since mid-July. Escalating US-Iran tensions raised concerns over potential crude supply disruptions from the Middle East. Fierce clashes between Washington and Tehran have intensified, impacting energy infrastructure worries. Meanwhile, Russian President Putin suggested a path to ending the Ukraine war. Both US and China reportedly su