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Brent crude prices touch 110 dollars per barrel.

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Witer 1
14/09/2026 | 07:46 PM

Oil prices jumped more than 4.5% on Monday as concerns over supplies through the Strait of Hormuz and Bab el-Mandeb intensified. Brent crude rose to around $109.5 a barrel, while U.S. crude climbed to $104.6 by 13:21 GMT.

The increase came amid growing worries about Saudi supplies following the closure of the East-West pipeline on Friday due to a drone attack that originated from Iraq. The disruption of the pipeline, which allows for redirecting exports away from the Strait of Hormuz, threatens up to 4% of global oil supplies.

Tony Sycamore, a market analyst at IG, suggested that gains could continue toward $119.48, the highest level recorded in early March, if this week's talks in Oman do not yield practical results or if the pipeline is not quickly restored.