Brent Crude Nears $100 a Barrel, Up Nearly 2 Percent Amid Iran-US Tensions

According to TGJU's price tracker, Brent crude rose $1.94, or about 2 percent, from the previous day to $99.96 a barrel on Thursday, October 1, 2026. That is about 4.5 percent below last week's level (Friday, September 25, at $104.66), but roughly 40 percent higher than three months ago and nearly 56 percent higher than a year earlier. In a separate report the same day, Trading Economics put Brent as high as $101.44, attributing the recent rise mainly to China curbing gasoline and jet-fuel exports to preserve domestic stockpiles, alongside ongoing energy-market disruptions linked to the US-Iran war and the war in Ukraine. Swings in global oil prices carry particular weight for Iran, where oil and petrochemical exports are a major part of the economy.