WTI crude climbs past $100 on Middle East tensions

WTI crude traded around $103 per barrel on 10 September 2026, rising past the $100 mark amid ongoing conflict in the Middle East that started six months ago. The European benchmark Brent crude traded near $108 per barrel, according to data from Bloomberg.

Price pressures followed an escalation of hostilities between the United States and Iran in the Persian Gulf, a corridor that carries 20% of global trade in crude and liquefied natural gas. In addition, financial group Actinver reported that Saudi Arabia informed OPEC that its output fell by 1.9 million barrels per day to 6.2 million, its lowest level since 1990.

The international rally lifted the Mexican export blend to $105 per barrel, posting a 5% daily gain and marking two consecutive sessions above $100, according to data compiled by Bloomberg Línea. Mexico's Ministry of Finance had projected an average blend price of $78 per barrel for late 2026 and $62 for 2027 in its newly published economic package.

A one-dollar shift in average crude prices alters Mexico's oil revenue by MXN$9,600 million. Meanwhile, state oil company Pemex has reduced its crude exports by 50% since 2024 under the government's fuel self-sufficiency policy.