Brent Settles at Six-Week High as Hormuz Risk Deepens
September 7, 2026
News summary: Reuters reported Brent rose 1.1% to settle at $97.31/bbl. WTI had no official settlement because of the U.S. Labor Day holiday and traded at $92.65/bbl at 17:45 GMT. Average Hormuz traffic over 10 days fell to 10 commodity vessels per day, the lowest since May.
Market context: The mixed settlement status required precise benchmark timing, while low traffic and threats to Gulf energy infrastructure kept vessel approval and war-risk cover central to physical offers.
Archive date: September 7, 2026