‎Oil extends gains, Brent crude surpasses $98

‎<p ><img src="https://argaamplus.s3.amazonaws.com/ff70c941-3e8c-42cc-894d-442a6e351e16.png" ></p> <p class="ckeCaption" ><!--StartFragment-->Oil drilling rigs<!--EndFragment--></p> <hr> <p >Crude oil prices extended gains today, Sept. 8, as the risk of conflict in the Middle East increased after Iran threatened the US with "economic war" in response to any new US attacks targeting its assets, renewing concerns about supply disruptions.</p> <p ></p> <p >Suvro Sarkar, Head of Energy Research at DBS Bank, said that the recent military escalation between the two sides could change the markets' assessment of the risks extending to 2026 and 2027, Reuters reported.</p> <p ></p> <p >Against the backdrop of turbulent shipping traffic, Goldman Sachs raised its forecast for the price of Brent crude by $5 to $85 for December 2026, and $80 for 2027.</p> <p ></p> <p >The US crude oil inventory report from the American Petroleum Institute is due to be released on Sept. 9, delayed from its usual date due to the Labor Day holiday on Sept. 7.</p> <p ></p> <table align="center" border="1" cellpadding="0" cellspacing="0" width="100%"> <tbody> <tr > <td colspan="4" > <p ><strong><span ><span ><span >Brent, WTI Futures Prices</span></span></span></strong></p> </td> </tr> <tr > <td > <p ><strong><span ><span ><span >Crude</span></span></span></strong></p> </td> <td > <p align="center" ><strong><span ><span ><span >Price ($/bbl)</span></span></span></strong></p> </td> <td > <p align="center" ><strong><span ><span ><span >Change ($)</span></span></span></strong></p> </td> <td > <p align="center" ><strong><span ><span ><span >Change</span></span></span></strong></p> </td> </tr> <tr > <td > <p ><strong><span ><span ><span >Brent (November delivery)</span></span></span></strong></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span ><span >98.44</span></span></span></span></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span ><span >1.44</span></span></span></span></p> </td> <td > <p align="center" ><span ><span ><span >1.50%</span></span></span></p> </td> </tr> <tr > <td > <p ><strong><span ><span ><span >WTI (October delivery)</span></span></span></strong></p> </td> <td > <p align="center" ><span dir="RTL"><span ><span ><span >93.80</span></span></span></span></p> </td> <td > <p align="center" ><span ><span ><span >2.32</span></span></span></p> </td> <td > <p align="center" ><span ><span ><span >2.55%</span></span></span></p> </td> </tr> </tbody> </table> <p ><em class="ckeCaption">*At 09:06 am Makkah time</em></p>

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Argaam - UAE News · Trade Publication

Published

8th September 2026

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argaam.com

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