Brent Oil Hits $100 as US-Iran War Shows Little Sign of Abating | The Opening Trade 9/9/2026

AI Summary

Brent crude oil prices surpassed $100 a barrel following renewed US-Iran hostilities and increased Chinese oil demand. The US military destroyed five Iranian oil tankers in response to missile attacks, escalating the conflict that continues to disrupt oil flows through the strategic Strait of Hormuz.

Brent oil topped $100 a barrel for the first time since July, as attacks between the US and Iran and a recovery in Chinese oil buying propel the global crude benchmark higher. The US military destroyed five Iranian tankers carrying crude in response to attempts to hit a US Navy warship with ballistic missiles overnight, Central Command said. It’s the latest escalation in the conflict, which began in February and has disrupted some flows through the vital Strait of Hormuz. The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards and Tom Mackenzie. (Source: Bloomberg)