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Oil prices surge as Middle East tensions escalate

Greenwatch Desk Energy 2026-09-14, 5:50am

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Oil prices jumped by more than $3 as markets opened on Monday following new strikes on Saudi Arabia and Gulf shipping.


Brent crude futures surged $3.62, or 3.46 percent, to $108.23 a barrel by 22:14 GMT, while WTI futures climbed $3.15, or 3.15 percent, to $103.20 a barrel.

Supply fears spiked after Saudi Arabia temporarily shut down its key 1,200km (746-mile) East-West oil pipeline, which spans the Arabian Peninsula, following a Friday drone attack, reports AL Jazeera.