COMMODITY
Crude oil futures end higher as Middle East escalation raises supply worries
Sep-11-2026

Crude oil futures closed sharply higher on Thursday as concerns over potential supply disruptions intensified following the recent re-escalation of tensions between the U.S. and Iran. Additionally, U.S. President Donald Trump’s remarks that the conflict could extend until November dampened expectations of an imminent reopening of the Strait of Hormuz. Meanwhile, according to the American Petroleum Institute (API), U.S. crude oil inventories declined by 300,000 barrels in the week ended September 4, following a larger draw of 2.6 million barrels in the previous week.

Benchmark crude oil futures for October delivery surged by $6.43 or 6.69% to settle at $102.48 a barrel on the New York Mercantile Exchange. Brent crude for November delivery jumped by $6.42 or 6.34% to settle at $107.63 a barrel on the New York Mercantile Exchange.


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