Oil Price Today Surges Above $97

Published by

Qadir AK

September 3, 2026

Oil barrels next to a rising chart line juxtaposed with a cracked Bitcoin coin under a falling red arrow.

Brent crude oil rose to $97.29 a barrel, its highest level in six weeks, as renewed U.S.-Iran fighting and threats to Iranian energy infrastructure increased supply concerns. Falling U.S. inventories and tight refined-product markets added pressure. Higher oil prices are raising inflation concerns and could strengthen expectations for further interest-rate hikes. Analysts warn Brent could approach $120 if restrictions around the Strait of Hormuz persist.

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