Oil Prices Surge Toward $100 Amid Renewed US-Iran Tensions

Oil prices climbed toward $100 per barrel as renewed US-Iran conflicts threaten global supply stability.

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from the fact record

Stands on 8 placed sources from 2 publishers.

As of 2026-09-04 10:57 UTC. Market figures are as the cited sources reported them at that time and may have moved since. This is news, not investment advice.

Brent crude oil prices rose 0.6% to $96.06 per barrel on Friday, while US WTI strengthened 0.9% to $92.10 per barrel. ^[1] Julius Baer, a Swiss private bank, stated in its CIO Weekly report that the global cycle of investment in artificial intelligence is accelerating rather than stalling. ^[2] Both Brent and WTI were on track for their largest weekly gain since mid-July, with Brent up 7.6% and WTI up 10.4%. ^[3] US diesel prices reached a record high of $5.82 per gallon on Thursday, surpassing the previous maximum from June 2022. ^[4] US military forces transported 40 commercial ships carrying approximately 18 million barrels of oil through the Strait of Hormuz on Tuesday, marking the largest daily volume since the start of the conflict. ^[5] Nvidia indicated that without current supply chain restrictions regarding memory, manufacturing, packaging, and energy, underlying customer demand would allow for a revenue projection near 100%. ^[6] The industry cloud backlog exceeds US$2 trillion, while capital spending by the five largest US hyperscalers is projected at US$800 billion for 2026 and US$1.3 trillion for 2027. ^[7] Yves Bonzon, the Group Chief Investment Officer at Julius Baer, noted that Nvidia's recent quarterly results exceeded market projections with a revenue growth forecast of more than 70% for the coming year. ^[8]

What this stands on

Brent crude oil prices rose 0.6% to $96.06 per barrel on Friday, while US WTI strengthened 0.9% to $92.10 per barrel. · Nezavisne novine

Julius Baer, a Swiss private bank, stated in its CIO Weekly report that the global cycle of investment in artificial intelligence is accelerating rather than stalling. · La Tercera

Both Brent and WTI were on track for their largest weekly gain since mid-July, with Brent up 7.6% and WTI up 10.4%. · Nezavisne novine

US diesel prices reached a record high of $5.82 per gallon on Thursday, surpassing the previous maximum from June 2022. · Nezavisne novine

US military forces transported 40 commercial ships carrying approximately 18 million barrels of oil through the Strait of Hormuz on Tuesday, marking the largest daily volume since the start of the conflict. · Nezavisne novine

Nvidia indicated that without current supply chain restrictions regarding memory, manufacturing, packaging, and energy, underlying customer demand would allow for a revenue projection near 100%. · La Tercera

The industry cloud backlog exceeds US$2 trillion, while capital spending by the five largest US hyperscalers is projected at US$800 billion for 2026 and US$1.3 trillion for 2027. · La Tercera

Yves Bonzon, the Group Chief Investment Officer at Julius Baer, noted that Nvidia's recent quarterly results exceeded market projections with a revenue growth forecast of more than 70% for the coming year. · La Tercera

We could not place any of them by their address. None is an official body: that part stands on reporting, not on the underlying document or transcript.

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