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Brent climbed to about $104 and touched $106 on September 10, its first time above $100 since May. Traders are watching the largest shipping attacks since the Iran conflict began, and Saudi output has dropped to a yearly low.
Chinese buying is also cited as supporting prices.
Persistent war risk and falling Saudi output keep crude and fuel prices elevated, raising operating costs for feed mills and farms. Chinese demand is a key swing factor for the direction of prices.
moneycontrol.comJ JagannathSep 10, 2026After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.
After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
