Oil jumps over 2% as tanker attacks deepen US-Iran tensions

Oil prices rose on Tuesday after tensions flared in the Middle East and the US threatened more strikes on Iran.

Jack Dutton

Sep 1, 2026

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Oil prices rose more than 2% on Tuesday after two oil tankers were attacked in the Strait of Hormuz, escalating tensions between the United States and Iran.

What happened: Brent crude oil, the international benchmark for oil, rose by 2.38% to $92.64 per barrel as of 9:49 a.m. EDT.

The gains followed attacks on two supertankers attempting to exit the Strait of Hormuz late Monday. Maritime security consultancy Marisks said the Sidr, a very large crude carrier operated by Saudi Arabia’s Bahri shipping company, was struck by a projectile northeast of Khasab, Oman.

The Senegal Prosperity, operated by South Korea’s Sinokor Group, was hit by three missiles east of Oman, according to the Athens-based........

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