Brent crude futures rose 3.4% to settle at $101.21 per barrel on September 9, marking their highest closing level since May 22, while West Texas Intermediate (WTI) increased 3.25% to $96.05 per barrel. The increase followed renewed maritime attacks involving the United States and Iran near the Strait of Hormuz, alongside Houthi attacks on Saudi energy infrastructure. Restricted tanker movements and continued disruptions to Middle Eastern oil exports contributed to heightened concerns over global energy supplies. The U.S. Energy Information Administration also raised its oil price forecasts for 2026 and 2027 amid declining inventories and supply disruptions.