Oil Settles More Than $4 Higher as Hormuz Supply Risk Returns
September 1, 2026
News summary: Reuters reported Brent rose $4.16, or 4.6%, to settle at $94.65/bbl and WTI gained $4.46, or 5.2%, to $90.22/bbl, their highest closes since late July, after renewed U.S.-Iran fighting raised supply disruption fears.
Market context: The final settlement replaced the earlier intraday reading and reinforced the need for timestamped benchmarks, short offer validity and current vessel, insurer and route confirmation.
Archive date: September 1, 2026