Oil Hits $100 for First Time Since July -- WSJ

By Caitlin McCabe

Oil crossed the $100-a-barrel threshold Wednesday morning after a fresh round of strikes in the Middle East. The U.S. destroyed four Iranian tankers in the Gulf of Oman and one near Kharg Island Tuesday, following attempts by Tehran to strike American warships.

Traders have become accustomed to hundred-dollar oil since Washington's conflict with Tehran started, but it has been a while. The last time Brent crude futures hit $100 was in July, before slipping below $80 in early August. Wednesday's spike puts prices about $20 higher in just a few weeks.

European natural gas prices also are jumping Wednesday morning, rising nearly 4% to trade close to 79 euros a megawatt-hour-on pace for their highest close since late 2022.

U.S. stock indexes opened lower, with the Dow leading losses again. Overseas stocks are mixed.

Treasury yields also are edging higher as traders await details from the Treasury Department later Wednesday on the size of Thursday's buyback operation for longer-term bonds.

Write to Caitlin McCabe at caitlin.mccabe@wsj.com

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(END) Dow Jones Newswires

September 09, 2026 09:49 ET (13:49 GMT)