Iran-US War Intensifies as Oil Prices Exceed $100 per Barrel
Mian Nadeem
Published September 09, 2026 | 11:12 PM
Tehran claims it targeted two US warships and eight oil tankers, while Washington says it destroyed five Iranian tankers, raising concerns over the global economy.
Background
Tensions between the United States and Iran in the Strait of Hormuz have reached an extremely dangerous stage. Iran claims it targeted 10 vessels in response to a US attack, while the United States had earlier confirmed destroying five Iranian oil tankers. Following the latest clashes, crude oil prices in global markets exceeded $100 per barrel.
Events
According to Iran’s Islamic Revolutionary Guard Corps, the targeted vessels included two US warships and eight oil tankers. US officials, however, denied that their naval vessels had been damaged. The US military described its operation against the Iranian tankers as a response to Iranian missile attacks on its warships.
Videos showing five Iranian oil tankers catching fire in the US attack were also released. Washington states that additional Iranian tankers could be targeted in response to attempts by Iran to attack US warships.
Global Impact
Rising tensions in the Strait of Hormuz have shaken global energy markets. Brent crude rose above $100 per barrel, reaching that level for the first time since July. According to a report, Brent increased by approximately 3.7% to $101.55 per barrel.
Experts suggest that if oil shipments through the Strait of Hormuz remain disrupted for an extended period, global petrol, diesel, shipping, and industrial costs could rise further, leading to higher global inflation, particularly in the prices of basic food items.
Importance of the Strait of Hormuz
A large quantity of the world’s oil passes through the Strait of Hormuz, meaning any major disruption there could be felt worldwide. According to Reuters, after the latest escalation in fighting, oil shipments through the strait at one point fell from 8 to 9 million barrels per day to approximately 2 million barrels, raising serious concerns about global supplies.
Iran has warned that it could declare a wider “no-go zone” in the maritime area using sea mines, potentially creating further difficulties for global shipping. The Islamic Revolutionary Guard Corps has also threatened to expand the scope of its response if further attacks take place.
Expanding Conflict
Recent events indicate that the ongoing US-Iran war is no longer limited to ground or air operations. Sea routes, oil tankers, and critical global energy infrastructure have also become direct parts of the conflict.
The situation has become more complicated after Iran-backed Houthi forces in Yemen attacked energy centers in Saudi Arabia, while fighting between Saudi Arabia and the Houthis is also intensifying again.
The Strait of Hormuz is considered one of the world’s most important energy routes. Continued attacks and disruptions to commercial shipping could push global oil prices even higher.
