US says it’s clearing Hormuz traffic: Why are oil futures beyond $100?

What the report says

Oil prices climbed above $100 a barrel as tensions around the Strait of Hormuz and attacks on Gulf energy infrastructure raised fears of tighter global supply, according to Al Jazeera. The story, published on 14 September 2026, said Brent crude rose to $107.82 a barrel after reports of attacks on shipping in the strait and damage to Saudi Arabia’s East-West pipeline, which is used to move oil around Hormuz.

The article said the US, including President Donald Trump and Energy Secretary Chris Wright, has described traffic through Hormuz as improving and claimed American forces are helping escort oil shipments. Iran disputed that account, saying it controls access to the waterway and has issued a restricted shipping zone. Al Jazeera also cited tanker-tracking data and Reuters reporting that vessel transits remained below normal levels.

The piece argued that market pricing reflects continuing disruption rather than official assurances. It quoted analysts saying ships still face security risks, insurance costs are rising, and futures prices suggest traders expect the situation to remain unsettled. The article also noted that a planned meeting in Oman between Gulf states and Iran was postponed, reducing hopes for a near-term diplomatic easing.

The wider significance is that Hormuz carries a major share of global oil and gas trade, so sustained disruption can affect energy costs well beyond the region. Al Jazeera also linked the pressure on markets to Houthi attacks in southern Saudi Arabia and growing concern over the Bab al-Mandeb route in the Red Sea.