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Oil Price Today (September 11): Crude oil soars 13% this week, set to close week above $100 after 4 months. What are experts saying?
Crude oil prices surged 13% this week to approach $100 per barrel, the highest in four months, driven by escalating Middle East tensions. Iran-aligned Houthi rebels seized a Yemeni port, threatening Red Sea shipping routes and the strategic Strait of Hormuz. Analysts warn prices could spike to $120 if threats escalate, signaling sustained inflationary pressure on India's oil import bill and current account deficit.
Exam-ready takeaways
- Crude oil prices surged 13% in the week ending September 11, approaching $100 per barrel for the first time in four months
- Iran-aligned Houthi rebels seized a Yemeni port, threatening Red Sea shipping traffic and the Strait of Hormuz chokepoint
- Analysts project potential spike to $120 per barrel if Middle East tensions escalate further
- India imports over 85% of its crude oil needs, making it highly vulnerable to global price shocks
- Rising oil prices widen India's current account deficit and fuel domestic inflation through higher fuel and transport costs
Recall the report
Fill the missing fact
Try the gap before opening the answer. These exercises use the report’s own wording; they are practice prompts, not past exam questions.
Crude oil prices surged [ … ] this week to approach $100 per barrel, the highest in four months, driven by escalating Middle East tensions.
Reported answer: 13%
Crude oil prices surged 13% this week to approach $100 per barrel, the highest in four months, driven by escalating Middle East tensions.
Crude oil prices surged [ … ] in the week ending September 11, approaching $100 per barrel for the first time in four months
Reported answer: 13%
Crude oil prices surged 13% in the week ending September 11, approaching $100 per barrel for the first time in four months
India imports over [ … ] of its crude oil needs, making it highly vulnerable to global price shocks
Reported answer: 85%
India imports over 85% of its crude oil needs, making it highly vulnerable to global price shocks
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