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10 Sept 2026, 12:49

Following the increase in tensions in the Middle East, the price of Brent crude oil surpassed $102 on Thursday, reflecting about a 1% rise compared to the previous day and approximately an 8% increase since the beginning of the month.

According to estimates from the U.S. Energy Information Administration, Iran's daily oil production fell by 800,000 barrels last month due to the re-imposition of the U.S. maritime blockade compared to July. At the same time, the escalation of attacks by the Islamic Republic on ships in the Strait of Hormuz and the initiation of Houthi attacks on Saudi oil tankers in the Red Sea and Bab-el-Mandeb has also led to an average daily oil production decrease of 940,000 barrels for Arab countries in the region last month compared to July.

The total oil production of Iran and Arab countries in the region last month was 6.7 million barrels less than the pre-Middle East war period.
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