Brent oil tops $100 per barrel amid Middle East war
On global markets on September 9, 2026, stocks declined, while the price of Brent oil exceeded $100 per barrel amid the protracted conflict in the Middle East. In the United States, government bond yields rose to new multi-year highs after the Treasury Department announced its intention to triple the volume of long-term bond buybacks.
As Channel NewsAsia reports, citing Reuters, Brent was again trading above $100 per barrel, while WTI reached a three-month high. Oil prices were 50% higher than during the same period of the previous year. The price of gasoline in the United States exceeded $4 per gallon, while diesel fuel set a record at $5.94 per gallon.
Decline in stock indices
European stock indices lost 1.4% and fell to a monthly low. In the United States, the S&P 500 index declined by 0.5%, the Nasdaq by 0.6%, and the Dow Jones by 0.8%. All S&P 500 sectors declined except for the energy sector, which rose by 1%.
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The industrial sector lost 1.5%, while the utilities sector fell by 1.2%. Meta shares rose by 6.6%, Apple shares declined by 0.3%, and Comcast lost 6.6%. The South Korean stock market, by contrast, rose by 1.3%.
Bond market reaction
The U.S. Treasury said it plans to buy back long-term bonds worth up to $6 billion on September 10, three times more than in the previous operation. Despite this, yields on U.S., British, and European bonds rose sharply. Ten-year U.S. government bonds, whose yield was the highest in three years, saw significant demand at auction.
Iran said on September 9 that it had attacked 10 vessels near the Strait of Hormuz after the United States sank five Iranian oil tankers. Reuters called this the largest reported wave of reciprocal attacks on shipping since the start of the six-month war.
