Story perspectives

Oil Tops $100 as U.S. Attacks Hit Tankers

By Drooid · Sep 11, 2026, 1:16 PM UTC · How we work

Summary

Story summary

U.S. attacks on Iranian tankers pushed oil above $100 a barrel on September 9-10 2026.
U.S. stock indexes each fell 0.5-0.8%, putting the market on track for a weekly loss.
U.S. gasoline rose 32% year-over-year to $4.22 per gallon; diesel hit $5.94, an all-time high.
United Kingdom petrol averaged 166.2p per litre, diesel 187.7p, and the energy price cap will rise 4% in October.

History

Historical Context

In October 1973 OAPEC, led by Saudi King Faisal, imposed an oil embargo on the United States that drove crude from $3 to $12 a barrel and prompted Nixon’s national energy emergency. The same pattern re-emerged in 2026 when U.S. forces struck Iranian tankers, pushing world oil above $100 per barrel and sparking sharp gasoline price spikes.

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Story summary

U.S. attacks on Iranian tankers pushed oil above $100 a barrel on September 9-10 2026.
U.S. stock indexes each fell 0.5-0.8%, putting the market on track for a weekly loss.
U.S. gasoline rose 32% year-over-year to $4.22 per gallon; diesel hit $5.94, an all-time high.
United Kingdom petrol averaged 166.2p per litre, diesel 187.7p, and the energy price cap will rise 4% in October.

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