Each US-Iran escalation has left oil prices with a higher floor — Brent is back above $100

Brent rose 7.8% and WTI nearly 10% in the week ending September 7, 2026, after the US and Iran resumed attacks on Strait of Hormuz shipping. Each military escalation since mid-August has added a risk premium that never fully reversed before the next strike, pushing Brent from the high $80s back above $100. The market is pricing sustained choke-point impairment, not a temporary disruption.