U.S. crude oil prices moved higher on September 28, 2026, as renewed geopolitical tensions in the Middle East kept concerns about global energy supplies firmly in focus. West Texas Intermediate (WTI), the main U.S. crude benchmark, traded around $93.40 per barrel, gaining roughly 1.1%, while international benchmark Brent crude climbed to about $106 per barrel. The latest rise followed renewed uncertainty surrounding U.S.-Iran diplomacy and the strategically important Strait of Hormuz, a critical route for global energy shipments. Traders are weighing the possibility of further supply disruptions against signs that crude exports from major Middle Eastern producers have been recovering. Higher oil prices can feed through to gasoline, transportation and production costs, potentially adding to inflationary pressure, while expectations for U.S. interest rates and movements in the dollar remain additional influences on commodity markets. With geopolitical developments capable of rapidly changing expectations for available supply, crude prices could remain volatile as investors monitor diplomatic negotiations, regional security developments and export flows.
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