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Oil Prices Jump After U.S.-Iran Strikes, Saudi Hits

9/7/2026

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Story summary
  • U.S. and Iran exchanged strikes, sending oil prices to a six-week high.
  • Brent crude futures rose 1.3% to $97.52 per barrel, peaking at $97.93.
  • Saudi Aramco oil facilities in Saudi Arabia were hit in fresh strikes on Monday, according to the Financial Times.
  • Damage assessment continues at the Jizan refinery, which processes 400,000 barrels per day.
  • Responsibility for the Jizan attack remains unclear, the Financial Times reported.