Oil Climbs as Middle East Supply Risks Intensity; Brent Nears $105

Oil rose on September 20, 2026, as traders tracked Middle East supply risks amid escalating US-Iran tensions. Brent crude gained toward $105 a barrel, while West Texas Intermediate traded near $101. Saudi Arabia issued air-raid alerts for Riyadh, the first in the capital since the March-April conflict peak, and warned of threats in Red Sea hubs including Yanbu. The kingdom faces attacks from Iran-backed Houthis in Yemen. US President Donald Trump indicated he would "probably" be open to meeting his Iranian counterpart, Masoud Pezeshkian, on the sidelines of the UN General Assembly this week. Qatar's prime minister said messages were being passed between Washington and Tehran. Crude has soared more than 70% this year as the US-Iran war disrupted energy flows through the Strait of Hormuz. US Central Command head Admiral Brad Cooper said crude and liquefied natural gas flows through the waterway are running at a six-month high.