Oil prices extended gains on September 9, 2026, as Iran vowed to escalate its response to any continued US attacks, raising fears of supply disruptions through the Strait of Hormuz. West Texas Intermediate (WTI) climbed above $97 per barrel, adding to a 3.3% jump in the previous session, while Brent settled above $101 for the first time since July. A senior Iranian official stated that the country is prepared for a more intense conflict and will not back down from a US naval blockade.

The escalating hostilities in the Middle East have heightened concerns about energy infrastructure and global supply chains, driving crude prices higher. Market analysts are closely watching for further developments that could impact oil flows and price volatility.