
Oil Hits $109 as Gulf Attacks Spark Inflation Fears and Rate Hike Odds
Brent crude surged to $109.20 per barrel on September 10, 2026, driven by intensified attacks on tankers in the Strait of Hormuz during the US-Israel conflict with Iran. The spike, which represents a 50% increase from July lows, has pushed US gas prices to nearly $4.28 per gallon and raised the probability of a Federal Reserve interest rate hike to nearly 70%. Stocks fell for a fourth consecutive day as bond yields climbed, reflecting heightened inflation concerns.












