Brent Up to $92

2026-06-10 11:24 By Joana Taborda 1 min. read

Brent rose about 2% to $92 a barrel on Wednesday as traders weighed escalating tensions in the Middle East.

US President Donald Trump said Iran had taken too long to negotiate a deal and would now “have to pay the price” and that he is close to ordering strikes on Iran's plants and bridges.

The comments follow Iranian attacks on several Gulf nations, including Bahrain, Jordan, and Kuwait, after US “self-defence strikes” in response to the downing of an American helicopter.

Traffic through the Strait of Hormuz remains significantly disrupted, with Iran blocking most shipping through the key waterway, while the US has imposed its own restrictions on Iranian ports.

However, US Energy Secretary Wright said vessel traffic in the Gulf and oil exports through the Strait are rising despite ongoing disruptions.

Meanwhile, API data showed US crude inventories fell by 9.1 million barrels last week to their lowest level in four months.



News Stream
Brent Up to $92
Brent rose about 2% to $92 a barrel on Wednesday as traders weighed escalating tensions in the Middle East. US President Donald Trump said Iran had taken too long to negotiate a deal and would now “have to pay the price” and that he is close to ordering strikes on Iran's plants and bridges. The comments follow Iranian attacks on several Gulf nations, including Bahrain, Jordan, and Kuwait, after US “self-defence strikes” in response to the downing of an American helicopter. Traffic through the Strait of Hormuz remains significantly disrupted, with Iran blocking most shipping through the key waterway, while the US has imposed its own restrictions on Iranian ports. However, US Energy Secretary Wright said vessel traffic in the Gulf and oil exports through the Strait are rising despite ongoing disruptions. Meanwhile, API data showed US crude inventories fell by 9.1 million barrels last week to their lowest level in four months.
2026-06-10
Brent Swings Amid Escalating Middle East Tensions
Brent swung around $91 a barrel on Wednesday, after falling about 3% in the previous session and reversing earlier gains seen during Asian trading, as traders assess escalating tensions in the Middle East. Iran launched attacks on several Gulf nations, including Bahrain, Jordan, and Kuwait, following US “self-defence strikes” in response to the downing of an American helicopter. Traffic through the Strait of Hormuz remains significantly disrupted, with Iran blocking most shipping through the key waterway, while the US has imposed its own restrictions on Iranian ports. However, US Energy Secretary Chris Wright said vessel traffic in the Gulf and oil exports through the Strait are rising despite ongoing disruptions. Meanwhile, API data showed US crude inventories fell by 9.1 million barrels last week to their lowest level in four months, as buyers moved to replace supplies disrupted by tensions in the Persian Gulf.
2026-06-10
Brent Turns Lower Despite Mideast Escalation
Brent fell toward $91 per barrel on Wednesday, reversing gains from earlier in the session even as escalating tensions in the Middle East threatened to undermine peace negotiations. Iran launched attacks against several Gulf nations, including Bahrain, Jordan, and Kuwait, after the US carried out “self-defense strikes” in response to the downing of an American helicopter. Oil prices also faced pressure ahead of a key US inflation report that could reinforce the case for a Federal Reserve interest rate hike later this year. Higher borrowing costs are expected to eventually curb economic activity, clouding the outlook for global growth and energy demand. Meanwhile, industry data from the API showed US crude inventories dropped by 9.1 million barrels last week to their lowest level in four months, as buyers sought to replace supplies disrupted by the turmoil in the Persian Gulf.
2026-06-10