$100 Per Barrel Oil Comes Into View as Brent Crude Hits $97.34 Amid Rising Iran-US Escalation

US vs IRAN – (Special Correpondent/Web Desk) – Brent crude is edging closer to a level traders have not seen in months, with prices touching $97.34 a barrel as tensions between Iran and the United States keep climbing. That number matters, since it puts the $100 mark firmly back in view for the first time in a while.

The latest push higher came after Iran warned that any new US strikes on its assets would be met with a strong response. That kind of language tends to worry oil traders fast, since it raises the odds of a longer fight rather than a quick calm-down.

Brent crude added about 34 cents in early trading, building on a sharp rise from the session before. US crude, known as West Texas Intermediate, climbed even faster, gaining more than a dollar to trade near $92.63 a barrel.

This is not a small blip. Brent had already reached its highest point since late July just one day earlier. That kind of back-to-back rise tells us investors think this standoff could run longer than expected, not fade away in a week or two.

Much of the worry centers on the Strait of Hormuz, a narrow waterway that carries a huge share of the world’s oil shipments. Any lasting trouble there tends to slow down tankers, raise shipping risk, and tighten supply, all of which push Brent crude prices higher.

Iran added to the pressure over the weekend, warning that energy sites across the Gulf, including American oil and gas interests, could be targeted. That statement followed a rough stretch of strikes from both sides, with no clear sign that talks are moving forward.

Reports say US forces struck three Iranian oil tankers on Saturday, including one near Kharg Island, which serves as Iran’s main oil export hub. That action came right after Iran’s Revolutionary Guards struck US Navy ships stationed in the region.

Analysts now expect this standoff to last well into the rest of the year, with some saying oil flow from the Gulf may not return to normal levels until early 2027. That kind of outlook is part of why Brent crude keeps finding fresh reasons to climb.

Goldman Sachs has already adjusted its numbers, raising its price targets for both Brent and WTI crude. The bank’s updated view assumes Middle East shipping disruptions will stretch well into 2027, not just the coming months.

Other market voices share a similar read. Analysts at Marex expect prices to stay high through year-end, pointing to a long list of unresolved issues between the two sides.

For now, all eyes remain on the Gulf. As long as the Iran-US conflict continues without a breakthrough, Brent crude looks likely to keep testing higher levels, with $100 a barrel no longer feeling like a distant number.