Yes. As of Friday, September 4, 2026, Brent crude was trading around $96 a barrel and was up more than 7% for the week, on track for its biggest weekly gain since July, while West Texas Intermediate was near $92.
The jump followed renewed U.S.-Iran fighting after a quieter stretch, with markets pricing higher risk of longer disruptions to energy flows through the Strait of Hormuz — a route that carried about a fifth of the world’s oil and LNG before the conflict. Brent is up almost 60% so far this year.
Source: Energy Connects (Bloomberg) — Oil Heads for Biggest Weekly Gain Since July on Iran War Risks