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Oil prices dip but Brent crude stays above $100 amid Middle East tensions and supply concerns

Market News
11 Sep 2026
CNBC
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Bearish
Oil prices dip but Brent crude stays above $100 amid Middle East tensions and supply concerns

Oil prices fell on Friday but Brent crude futures remained above $100 a barrel, ending a multi-day winning streak. Brent crude dropped 3.58% to $103.78, while U.S. WTI crude fell 2.17% to $99.23. The market is reacting to escalating conflict in the Middle East, including concerns over Red Sea shipping and Saudi oil output dropping to its lowest since 1990. Analysts suggest the supply deficit may be temporary as renewable energy adoption grows, but prices could stay high until at least 2026 if tensions persist.

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