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Oil prices rise on US talks of military action in Iran amid Middle East tensions

Market News
07 Oct 2026
CNBC
View Source
Bullish
Oil prices rise on US talks of military action in Iran amid Middle East tensions

Oil prices increased as the US considers restarting large-scale military operations in Iran, raising concerns about Middle East stability. Brent crude rose 1.36% to $101.54 per barrel, and US West Texas Intermediate gained 1.04% to $89.32 per barrel. The situation is tense due to recent attacks by Iran-backed Houthis on Saudi airports and tanker assaults in the Hormuz Strait. Market experts warn that any escalation threatening Gulf export routes could further push oil prices higher.

Oil price movements amid Middle East tensions provide context for energy markets. As of Oct 08, 2026 08:31 WIB, 9 of 38 priced Energy-sector US stocks on Pluang rose while 29 fell. Notable movers include Enphase Energy Inc at USD 33.38 with a 1-day change of -1.56% and Cenovus Energy Inc at USD 30.76 with a 1-day change of -1.54%.

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