Live News COMMODITIES ARTICLE H impact Sep 06, 2026, 11:35 PM UTC

WTI rises as U.S.-Iran conflict escalates amid tanker strikes

WTI crude oil futures rose in early Asian trade as the U.S.-Iran conflict escalated, with the U.S. saying it struck three Iranian oil tankers after Iran launched ballistic missiles toward two Navy warships.

SquawkNews Newsroom 1 updates Updated Sep 06, 2026, 11:40 PM UTC

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11:40:27 PM UTC

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Crude oil rose above $92 per barrel on Monday, extending last week’s gains as the US and Iran exchanged strikes in the Middle East, fueling concerns over prolonged disruptions to energy flows from the region. The US targeted three Iranian oil tankers over the weekend in retaliation for ballistic missile attacks on US Navy warships. In response, Tehran said a new restricted zone would be established outside the Strait of Hormuz, including a US Navy blockade line and extending into parts of the Persian Gulf. Meanwhile, US Energy Secretary Chris Wright said the US would maintain its naval presence in the Middle East, including the blockade designed to curb Iranian oil exports and help ensure the safe passage of commercial vessels through Hormuz. Fighting between the two sides resumed last week after roughly a month of relative calm, pushing oil prices about 10% higher as markets reassessed geopolitical and supply risks.

Crude oil rose above $92 per barrel on Monday, extending last week’s gains as the US and Iran exchanged strikes in the Middle East, raising concerns about prolonged disruptions to regional energy flows. The US targeted three Iranian oil tankers over the weekend in retaliation for ballistic missile attacks on US Navy warships. Tehran said it would establish a new restricted zone outside the Strait of Hormuz, including a US Navy blockade line and stretching into parts of the Persian Gulf.

US Energy Secretary Chris Wright said the US would keep its naval presence in the Middle East, including the blockade aimed at curbing Iranian oil exports and helping ensure the safe passage of commercial vessels through Hormuz. Fighting between the two sides resumed last week after roughly a month of relative calm, pushing oil prices about 10% higher as markets reassessed geopolitical and supply risks.