Marketplace · Thursday, September 10, 2026
West Texas Intermediate, the US benchmark for oil, has surpassed $100 a barrel, reaching nearly $104, while Brent crude hovers around $107. This price increase is attributed to a significant drop in oil shipments from the Middle East due to ongoing conflict, with shipments down 65% from the previous year. Analysts anticipate these elevated prices to persist.
“Well, today, American oil lost its chill. West Texas Intermediate, that's US oil, went over $100 a barrel. It's almost $104 now. Not a good sign. Brent crude, that's oil in the rest of the world, basically at $107.”
“All of the oils have been going up for a month now because, escalation in the Middle East, oil shipments out of the Middle East are now down 65% from one year ago.”
“And it looks like this is going to be just how it is for a while.”