Archive · 2 Sep 2026
Brent Crude Nears $100 as US-Iran Strikes Escalate
Oil prices are close to $100 because fighting between the United States and Iran has continued for 40 days.
The United States attacked Iran’s Larak Island.
Iran then attacked US military bases and other assets in Jordan and the United Arab Emirates.
The fighting is connected to the Strait of Hormuz, an important route for ships.
Donald Trump said US forces were helping about 30 ships travel through the strait each night.
He also said the United States had almost total control of the waterway.
Trump warned Iran and said its economy was collapsing.
He said he was not trying to force Iran into negotiations.
Brent crude has hovered near $100 after 40 days of escalating US-Iran strikes.
The United States bombed Iran’s Larak Island in a fresh round of attacks.
Iran retaliated by targeting US military bases and assets in Jordan and the United Arab Emirates.
Donald Trump said the US was helping about 30 ships pass through the Strait of Hormuz each night.
Trump claimed the US had “almost total control” of Hormuz while saying Iran’s economy was collapsing.
- Who
- The United States, Iran, and US President Donald Trump are involved.
- What
- US-Iran military strikes have escalated, while tensions have deepened around the Strait of Hormuz.
- When
- The escalation followed 40 days of strikes; Trump’s comments came after the latest attacks.
- Where
- The reported attacks involved Larak Island, US assets in Jordan and the United Arab Emirates, and the Strait of Hormuz.
- Why
- The articles link the crisis to escalating military action and tensions over control and passage through the Strait of Hormuz.
United States Position
Iranian Response
Military escalation
United States Position
Donald Trump threatened to hit Iran hard and said US forces had completed another round of strikes, including an attack on Larak Island.
Iranian Response
Iran responded with retaliatory strikes targeting US military bases and assets in Jordan and the United Arab Emirates.
Strait of Hormuz
United States Position
Trump claimed the United States had “almost total control” of the strait and was helping about 30 ships pass through each night.
Iranian Response
The article reports Iran’s retaliatory military actions but does not provide an Iranian statement about control of or shipping through the strait.
Negotiations and Iran’s government
United States Position
Trump said he was not trying to force Iran to the bargaining table, described Iran’s economy as collapsing, and urged Iranian people to rise up.
Iranian Response
The article does not report an Iranian response to Trump’s statements about negotiations, the economy, or domestic opposition.
- Oil benchmark
- Brent crude
- Reported price level
- Near $100
- Duration of escalation
- 40 days
- US target
- Iran’s Larak Island
- Iranian targets
- US military bases and assets in Jordan and the United Arab Emirates
- Reported nightly shipping assistance
- About 30 ships
- Trump’s claim about Hormuz
- The US has “almost total control” of the strait