{"id":47372,"date":"2026-09-06T00:22:39","date_gmt":"2026-09-06T04:22:39","guid":{"rendered":"https:\/\/sharewatch.com\/wp\/2026\/09\/06\/oil-heads-for-weekly-gain-as-us-iran-fighting-resumes\/"},"modified":"2026-09-06T00:22:39","modified_gmt":"2026-09-06T04:22:39","slug":"oil-heads-for-weekly-gain-as-us-iran-fighting-resumes","status":"publish","type":"post","link":"https:\/\/sharewatch.com\/wp\/2026\/09\/06\/oil-heads-for-weekly-gain-as-us-iran-fighting-resumes\/","title":{"rendered":"Oil heads for weekly gain as US-Iran fighting resumes"},"content":{"rendered":"
\n

Oil prices were on course to gain more than 6% for the week as the US and Iran resumed military exchanges in the seventh month of their conflict, while US diesel prices hit a record high.<\/p>\n

Brent crude futures were up 6.1% for the week and US West Texas Intermediate crude futures had gained 8.3%.<\/p>\n

On the day Brent was flat at $95.54 a barrel by early evening, while WTI was down 0.6%, at $90.78.<\/p>\n

The rally in oil prices combined with a much steeper increase in fuel prices has pushed inflation and government borrowing costs higher around the world and intensified warnings that the global economy might be heading for a hard landing.<\/p>\n

“All sectors of the economy are affected by diesel. This is one of the reasons why the government bond yields in the US are so high, it’s the expectation that inflation will continue to go up,” said Claudio Galimberti, chief economist at Rystad Energy.<\/p>\n

Average US diesel prices hit record highs as renewed US-Iran hostilities and Ukrainian attacks on Russian refineries increased supply disruptions.<\/p>\n

The US government has said Middle Eastern oil flows have returned to near normal levels in recent weeks, but analysts and tanker trackers have said flows remain seriously disrupted.<\/p>\n

US attacks this week that killed and wounded dozens, including Iranian civilians, were the fiercest clashes between the two countries since July.<\/p>\n

Defence Minister Israel Katz renewed warnings that Israel would “cripple” Iran’s military and civilian infrastructure, including energy facilities, if Tehran attacked it.<\/p>\n

A US campaign to throttle Iran’s economy by blockading its oil exports and stopping sanctions evasion is growing increasingly difficult to withstand, three senior Iranian sources said.<\/p>\n

“The combination of renewed US-Iran hostilities and ongoing uncertainty around the Strait of Hormuz has been enough to reprice risk higher,” said Tim Waterer, chief market analyst at KCM Trade.<\/p>\n

Four commodity vessels transited the Strait of Hormuz yesterday, well below the 10-day average tally of about 15, preliminary shipping data showed.<\/p>\n

Iraq increased its August oil exports to about 2.34 million barrels per day from about 1.35 million bpd in July, two Iraqi energy officials said on Wednesday.<\/p>\n

Citi raised its average Brent crude price forecast for the third quarter to $86 a barrel from $80, saying the reopening of the strait was taking longer than previously expected.<\/p>\n

ANZ analysts also raised their Brent crude forecast, to $95 a barrel in the short term, with upside risk if the Middle East conflict intensifies.<\/p>\n<\/section>\n","protected":false},"excerpt":{"rendered":"

Oil prices were on course to gain more than 6% for the week as the US and Iran resumed military exchanges in the seventh month of their conflict, while US diesel prices hit a record high. Brent crude futures were up 6.1% for the week and US West Texas Intermediate crude futures had gained 8.3%. […]<\/p>\n","protected":false},"author":1,"featured_media":47373,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[19,20],"tags":[],"class_list":["post-47372","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-news","entry","has-media"],"_links":{"self":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts\/47372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/comments?post=47372"}],"version-history":[{"count":0,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts\/47372\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/media\/47373"}],"wp:attachment":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/media?parent=47372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/categories?post=47372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/tags?post=47372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}