The Economic Times

Oil Price Today (September 11): Crude oil soars 13% this week, set to close week above $100 after 4 months. What are experts saying?

Oil prices have surged towards $100 a barrel due to rising tensions in the Middle East, where recent attacks have threatened shipping routes. The seizure of a Yemeni port by Iran-aligned Houthis raises concerns about Red Sea traffic and the critical Strait of Hormuz. Analysts warn that if threats escalate, oil prices could spike to $120 a barrel, indicating sustained high costs as shipping remains uncertain.