Crude Oil Price Today Set for Steepest Weekly Gain Since Mid-July on US-Iran Tensions

Crude oil price today: Brent +0.2% to $95.67/barrel. WTI +0.3% to $91.56. Weekly: Brent +7.1%, WTI +9.8%, steepest gains since week ended July 20.

Updated: 4 Sept 2026 • 9:13 am

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Crude Oil Price Today Set for Steepest Weekly Gain Since Mid-July on US-Iran Tensions

Quick Answer

Crude oil price today rose on Friday and is on track for its steepest weekly gain since mid-July, as rising tensions and renewed US-Iran hostilities heightened concerns over Middle East supply risks. Brent crude futures gained 15 cents, or 0.2 percent, to $95.67 a barrel, while US West Texas Intermediate crude futures were up 26 cents, or 0.3 percent, at $91.56. On a weekly basis, crude oil price today shows Brent has risen 7.1 percent and WTI is 9.8 percent higher, set for the highest weekly gains since the week ended 20 July.

Crude oil price today rose on Friday, with Brent crude futures gaining 15 cents, or 0.2 percent, to $95.67 a barrel, and US West Texas Intermediate crude futures up 26 cents, or 0.3 percent, at $91.56, as intensifying US-Iran tensions heightened concerns over Middle East supply risks.

On a weekly basis, crude oil price today is on track for its steepest gain since mid-July, with Brent up 7.1 percent and WTI 9.8 percent higher, marking the highest weekly gains since the week ended 20 July.

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Table of Contents

Why Is Crude Oil Price Today Rising So Sharply This Week?

Oil has been driven higher this week by renewed US-Iran hostilities, which have raised concerns over potential disruptions to supply routes through the Middle East. The scale of the weekly gain, the steepest since mid-July, reflects how quickly the market has repriced geopolitical risk as tensions have escalated through the week.

How Do Brent and WTI Compare in This Week's Rally?

Brent crude, the global benchmark, has risen 7.1 percent this week to $95.67 a barrel, while US WTI crude has climbed even more sharply, up 9.8 percent to $91.56, narrowing the typical spread between the two benchmarks amid broadly shared supply concerns.

Both benchmarks are set for their highest weekly gains since the week ended 20 July, underscoring how concentrated this week's move has been compared with the more gradual price action seen in recent months.

What Does Crude Oil Price Today Mean for India?

As one of the world's largest oil importers, India remains highly sensitive to swings in crude oil price today, since a sustained rise of this magnitude can widen the trade deficit, pressure the rupee, and raise input costs across sectors from aviation to chemicals. Indian equity markets have shown sensitivity to crude oil price today through the week, with oil marketing companies and rate-sensitive sectors watched closely for knock-on effects.

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What Should Investors Watch for Crude Oil Price Today Going Forward?

Investors and businesses tracking crude oil price today should watch for further developments in the US-Iran conflict, including any signs of de-escalation or, conversely, an expansion of hostilities that could threaten regional supply routes further. Given the scale of this week's move, continued volatility in crude oil price today appears likely in the near term.

Conclusion

Crude oil is on track for its steepest weekly gain since mid-July, with Brent at $95.67 a barrel and WTI at $91.56, as intensifying US-Iran tensions raise concerns over Middle East supply risks. With Brent up 7.1 percent and WTI up 9.8 percent this week alone, the pace of the move has been unusually sharp. Investors should track further developments and consult a SEBI-registered advisor before making investment decisions linked to oil and energy stocks.

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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).

Frequently Asked Questions

What is the crude oil price today?

Ans. Crude oil price today shows Brent crude futures up 0.2 percent at $95.67 a barrel, and US WTI crude futures up 0.3 percent at $91.56.

Why is crude oil price today rising sharply this week?

Ans. Crude oil price today has risen sharply this week due to intensifying US-Iran tensions, which have heightened concerns over potential Middle East supply disruptions.

How big is this week's gain in crude oil price today?

Ans. Crude oil price today is on track for its steepest weekly gain since mid-July, with Brent up 7.1 percent and WTI up 9.8 percent for the week.

How does crude oil price today affect India?

Ans. As one of the world's largest oil importers, India is highly exposed to a sustained rise in crude oil price today, which can widen the trade deficit, pressure the rupee and raise input costs across several sectors.

What is the difference between Brent and WTI in today's rally?

Ans. Brent crude, the global benchmark, is up 7.1 percent this week, while US WTI crude has risen even more sharply at 9.8 percent, narrowing the typical spread between the two benchmarks.

What could change crude oil price today going forward?

Ans. Any signs of de-escalation or further escalation in the US-Iran conflict are likely to remain the key drivers of crude oil price today in the near term.