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Oil Prices Rise Above $107 Amid Middle East Tensions

GreenWatch Desk: Energy 2026-09-11, 6:41pm

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Global oil prices rose above $107 a barrel on Thursday amid growing concerns over supply disruptions following intensified fighting in the Middle East.

Brent crude, the global benchmark, settled at $107.63 a barrel, up 6.34%, reaching its highest level since May 19.

US West Texas Intermediate (WTI) crude rose 6.69% to $102.48 a barrel, also reaching its highest level since May.

The price surge followed the seizure of Yemen’s port city of Mocha by Iran-aligned Houthi rebels and intensified attacks on shipping in and around the strategic Bab el-Mandeb and Strait of Hormuz.

The developments have heightened fears of further disruptions to global oil supplies.