Global oil prices surge in September
Global oil prices surged to record levels since the beginning of September 2026, with an increase of over 40% compared to the same period last year. The price of a barrel of oil reached its highest point this year, approximately $108.75 for Brent and $96 for West Texas Intermediate. This rise was driven by regional tensions and disruptions in maritime navigation through the Strait of Hormuz. It is expected that oil prices will remain in upward ranges between $102 and $110 during the last quarter of next year, or potentially stay within the $85 to $90 range if downward pressure on prices diminishes.
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