Crude Oil Prices Surge Past $100 Per Barrel, Raising Concerns for Cambodia's Economy

International crude oil prices surged past $100 per barrel on the afternoon of September 9, 2026, breaching the three-digit mark for the first time since July 24, 2026. This rise is attributed to escalating tensions in the Middle East, which have heightened concerns over potential disruptions to oil shipments from the region, according to Reuters. Brent crude oil rose by $2.15, or 2.2%, to $100.07 per barrel by 2:20 PM. Meanwhile, U.S. West Texas Intermediate (WTI) crude oil increased by $1.70, or 1.83%, to $94.73 per barrel. The price of Brent crude has climbed 25% since the beginning of the previous month, as hopes for a resolution to the six-month conflict between the United States and Iran have faded. Attacks by Yemen's Iran-backed Houthi rebels could threaten oil shipments through the Red Sea, a crucial alternative to the Strait of Hormuz, where oil transit has significantly decreased since the war began on February 28. The escalating conflict over the past six months has seen U.S. forces strike several Iranian oil tankers, prompting Iran to retaliate with attacks on U.S. military bases in Jordan and on various cargo vessels. These recent strikes further jeopardize oil supplies in the already tense Middle East, amidst ongoing attacks on energy infrastructure and vital shipping routes in the region.