Oil neared $100 as US strikes on Iranian tankers rattled global markets

Tensions across the Gulf are escalating rapidly after the US military reportedly destroyed five Iranian oil tankers early Wednesday, in what Washington says was retaliation for repeated Iranian missile attacks on a US Navy warship. Iran's Revolutionary Guard has since warned tanker crews near Kuwaiti and Bahraini ports to evacuate, while explosions were also reported on Iran's Kharg Island. The escalation follows a separate missile attack on Jordan and a sharp jump in oil prices, with Brent crude nearing $98 a barrel. Follow this live blog for updates as the situation develops.
Jordan Armed Forces (JAF) – Arab Army announced that the kingdom came under a missile attack from Iranian territory over the past few hours. Petra News Agency quoted the spokesperson of the Jordan Armed Forces as saying that Jordanian air defence systems engaged 20 ballistic missiles fired toward Jordanian territory, successfully intercepting and destroying 18 of them.
Two missiles fell in unpopulated areas. Field assessments confirmed that no casualties were recorded as a result of the attack, the spokesperson added, emphasising that the armed forces addressed the threat in accordance with established operational procedures to protect the kingdom's airspace and ensure public safety. Continuous monitoring, tracking, and evaluation remain underway.
Britain has announced sweeping new measures targeting Israeli settlements in the occupied West Bank, accusing settlers of driving Palestinians from their homes and warning that settlement expansion is threatening the possibility of a Palestinian state. Israel responded by announcing the closure of the British consulate in East Jerusalem, sharply escalating tensions between the two allies.
British Foreign Secretary Ed Miliband said settler violence and settlement expansion had reached an unacceptable level. In remarks to Parliament, he accused extremist settlers of using violence to displace Palestinians and described the situation as part of a broader threat to the viability of a two-state solution.
Britain has particularly objected to Israel's planned expansion of the E1 settlement project, which the British government says could sever the territorial connection between the West Bank and East Jerusalem. London has described the project as a serious threat to the possibility of establishing a viable Palestinian state.
Israel responded swiftly: Foreign Minister Gideon Saar said Israel would close Britain's consulate in East Jerusalem, which serves as the UK's diplomatic mission dealing with the Palestinian territories.
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Oil prices rose sharply early Wednesday (Sept. 9, 2026) as renewed US-Iran hostilities threatened to widen across the Gulf and disrupt tanker traffic through the Strait of Hormuz. As of 8:28 am Tokyo, the market board showed: WTI crude at $94.33, up 1.40%, Brent crude at $97.92, or 0.95% higher, while Murban spiked 3.75% to $110.80, a $4.00 jump.
The latest prices put Brent near the six-week high reached in the previous session.
The immediate trigger for the latest risk premium was the US military’s reported destruction of five Iranian crude carriers.
The Islamic Revolution Guards Corps (IRGC)’s Navy has issued an "immediate warning" to tanker crews in the vicinity of ports and harbours in Kuwait and Bahrain, according to Iran-linked PressTV.
In a statement early on Wednesday, the IRGC Navy said the warning was issued in response to the “hostile actions” of the US military in targeting several oil tankers belonging to the Islamic Republic.
The US military has destroyed five Iranian crude oil carriers early on Wednesday (September 9).
The attacks on Iranian tankers are in response to Islamic Revolutionary Guard Corps (IRGC) targeting a US Navy warship with ballistic missiles twice over the past two days, according to the US Central Command.
"The US warship successfully evaded the attempted Iranian attacks and continued to patrol regional waters. No American personnel were harmed."
Separately, US Secretary of State Marco Rubio said Iran continues to try to hit US naval ships, and "every time they try to do that, they're going to lose crude oil tankers".
The US has sanctioned all 27 of Iran’s remaining airlines, escalating a campaign to cut Tehran off from international finance, aviation and trade as the war and economic confrontation enter a critical phase.
The Treasury Department announced that it was sanctioning 36 targets tied to Iran’s aviation sector under "Operation Economic Outcast", including 27 Iranian airlines and companies and intermediaries in several countries.
The measures target what US officials describe as networks used by Iran to move weapons, personnel and illicit cargo, as well as intermediaries that help Iranian airlines obtain US-origin aircraft, spare parts and sensitive aviation technology.
Treasury Secretary Scott Bessent warned companies doing business with the sanctioned airlines that they risk being cut off from the US financial system.
Iranian local media reported on Tuesday that several blasts were heard on Iran's Kharg Island, which is located in the Gulf and is from where the majority of country's oil is exported.
"The sound of several explosions was heard in parts of Kharg Island a few minutes ago," Mehr news agency said, without elaborating.
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