Oil prices reach $100 a barrel amid Middle East turmoil
An escalation of fighting around the Strait of Hormuz pushes the benchmark price of crude oil back above $100 per barrel. That's leading to higher prices at the gas pump, just ahead of a high-profile inflation report.
Multiple outlets report that oil and gas prices rose to notably high levels amid escalating tensions linked to conflict involving Iran. NBC News reported Brent crude touched $99 a barrel amid reports of a new U.S. strike in Iran and attacks on Saudi infrastructure. PBS NewsHour reported that U.S. gas prices hit a record Labor Day high, attributing the increase to the Iran war and refinery issues. Together the reports indicate a connection between Middle East conflict escalation and rising energy costs in the United States around early September 2026.
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Crude oil tops $100 a barrel, increasing prices at the pump
An escalation of fighting around the Strait of Hormuz pushes the benchmark price of crude oil back above $100 per barrel. That's leading to higher prices at the gas pump, just ahead of a high-profile inflation report.
Read original report ↗Oil Hits $100 a Barrel as Turmoil Intensifies in Middle East
The cost of crude has risen 40 percent since the start of the war in Iran, pushing up the price of gasoline, diesel and other refined fuels.
Read original report ↗Oil nears $100 on reports of new U.S. strike in Iran and attacks on Saudi infrastructure
Brent, the international oil benchmark, touched $99 a barrel Tuesday after tensions among the U.S., its allies and Iran flared up again.
Read original report ↗Gas prices in U.S. hit record Labor Day high, thanks to Iran war and refinery issues
It's never been more expensive in the U.S. to fill up the tank and take one last summer trip over the Labor Day weekend.
Read original report ↗CBS News gas and oil price tracker shows how much energy costs are rising
As the war with Iran continues, CBS News is tracking gas and oil prices. Find out how much more it costs to fill up your tank or heat your house.
Read original report ↗