Business Desk – Crude Oil Price Today: A strong rise in the prices of crude oil is being seen in the global market today i.e. on 9 September 2026. Crude Oil Price has gone up rapidly due to the tension between America and Iran not decreasing and Global Oil Supply being disrupted. Today the price of Brent Crude has reached $ 100 per barrel.
At the same time, WTI Crude has also crossed $ 94 per barrel. This surge in oil prices has increased the concern of those countries which fulfill a major part of their needs through oil imports. India is also a big importer of crude oil, so if prices remain high for a long time, it can have an impact on the domestic economy.
America-Iran tension affects supplies
The increasing tension in the Middle East is being considered a major reason for the rise in oil prices. America's army has again attacked Iran's oil tankers. On the other hand, Iran claims that it has captured an American drone.
Meanwhile, America has announced to impose new sanctions against 36 institutions of Iran. These institutions also include foreign cargo service providing companies and airlines. America says its aim is to isolate Iran's trading partners and increase economic pressure on it.
Warning to countries doing business with Iran
America has also warned those countries which maintain trade relations with Iran. US Treasury Secretary Scott Besant has said that countries doing business with Iran could be excluded from the global financial system.
After the new sanctions, Iran's Foreign Minister Abbas Araghchi has hit back at America. He says that America's image is also being tarnished by such steps.
Goldman Sachs estimated $120
Goldman Sachs' old warning is also in discussion amid the rise in crude oil prices. Banking and investment firms say that if the tension between America and Iran does not reduce and there are continuous attacks on ships in the Strait of Hormuz, then the oil supply may be further affected.
In such a situation, if the supply crisis deepens, the price of crude oil may reach $ 120 per barrel. Although this is a possible estimate, the current price is not indicative of this.
Why increased concern for India?
The increase in the price of crude oil can have a direct impact on India's import bill. India fulfills a major part of its requirement through import of crude oil. In such a situation, if Crude Oil Price remains high for a long time, the country may have to spend more foreign exchange.
If expensive oil remains for a long time, it may affect Petrol-Diesel prices also. Apart from this, there is a possibility of increasing pressure on inflation due to increase in transportation and production costs. That is, in the coming days, investors and common people will keep an eye on the events related to Brent Crude, WTI Crude, Iran-US Tension and Strait of Hormuz, because these can have a direct impact on global oil supply and prices.
