COMMODITY
Crude oil futures end significantly higher on renewed supply concerns
Oct-09-2026

Crude oil futures ended significantly higher on Thursday on supply concerns after a spate of attacks on shipping in the Strait of Hormuz, combined with a cut in US output due to hurricane activity. Iran ramped up attacks on tankers transiting the Strait of Hormuz and Hurricane Isaias threatened US offshore production in the Gulf of Mexico. In the Gulf of Mexico, oil companies have shut in about 500,000 bpd, or 25% of offshore production, as Hurricane Isaias moves toward the Alabama, Mississippi and Florida Panhandle coasts.

Benchmark crude oil futures for November delivery jumped by $3.21 or 3.64% to settle at $91.49 a barrel on the New York Mercantile Exchange. Brent crude for December delivery surged by $4.08 or 4.07% to settle at $104.28 a barrel on the New York Mercantile Exchange.

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