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10 Sept 2026, 23:35

On Thursday, September 19, the price of oil surged by more than six percent amid escalating conflicts in the region and increasing concerns about disruptions in energy supply, with Brent crude reaching $107.63 per barrel. West Texas Intermediate crude also crossed the $100 mark.

According to OilPrice data, the price of Murban oil rose by over five percent to $122.48, while the OPEC basket was priced at $112.25, reflecting an increase of more than four percent.

The price increase followed attacks on tankers in the Persian Gulf and the Sea of Oman, as well as the advance of the Houthis along the Red Sea coast. Reuters reported that the capture of the port of Mocha and the Houthis' advance towards the Hanish Islands have heightened concerns about the security of the Bab-el-Mandeb Strait and the oil export route from Saudi Arabia.

At the same time, ship traffic through the Strait of Hormuz has significantly decreased, with preliminary data indicating that only seven vessels passed through this waterway on September 18.
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