Oil Price Today (September 7): Crude oil approaches $100 as US, Iran strikes hit oil vessels in Hormuz. Ex
- Posted on September 7, 2026
- By Business News Today
- 1 Views
- 1 min read
In brief
Geopolitical tensions in the Middle East are intensifying oil market volatility, with crude prices climbing toward the $100 benchmark following recent military operations in the Strait of Hormuz. U.S. forces have targeted Iranian vessels near critical shipping lanes and major export infrastructure, amplifying concerns about supply disruptions in one of the world's most strategically important energy corridors. Investors are closely monitoring developments as regional instability threatens global energy security and fuel prices.
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Oil Price Today (September 7): Crude oil approaches $100 as US, Iran strikes hit oil vessels in Hormuz. Ex
The latest escalation came on Saturday when U.S. forces struck three Iranian oil tankers, according to U.S. Central Command. One of the vessels was hit off the coast of Kharg Island, near Iran's key oil export hub.
