Oil gains as US attacks on Iranian ships raise escalation risks Iran says a new restricted zone outside of Hormuz will be declared in the coming days - Crude surged in the week ended Sep 6 after hostilities flared between the US and Iran after a period of relative calm.

PHOTO: REUTERS OIL climbed after the US attacked Iranian tankers and Teheran declared a new restricted zone outside of the Strait of Hormuz, raising concerns about prolonged disruptions to energy flows through the waterway. Brent gained as much as 0.

8 per cent to trade near US$97 a barrel at the open, while West Texas Intermediate was around US$92. The US said it launched strikes against three Iranian oil tankers over the Sep 5-6 weekend, destroying one, in retaliation for attacks on American Navy warships with ballistic missiles.

In response, Iran’s top security official said a new restricted zone outside of Hormuz will be declared in the coming days, beginning at the US Navy blockade line and extending into parts of the Persian Gulf, Iran’s Press TV reported. Iran also said it targeted three tankers, but there was no independent corroboration.

Crude surged in the week ended Sep 6 after hostilities flared between the US and Iran after a period of relative calm. Brent crude is up almost 60 per cent in 2026, with refined products such as diesel seeing even steeper gains due to the Middle East conflict and the Russia-Iran war.

US Energy Secretary Chris Wright said there will not be any let-up in the US naval presence, which includes the blockade to stymie Iranian oil exports as well as helping to ensure safe passage for other commercial ships through the strait. Wright recently said millions of barrels were exiting Hormuz daily.

BLOOMBERG Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

The new head of Iran’s Supreme National Security Council says the country plans to announce an “exclusion zone” outside the Strait of Hormuz aimed at vessels it believes are attempting to transit the waterway. Mohsen Rezaei’s comments to Iran’s state broadcaster came with few details, a day after the US struck three Iranian oil tankers in response to what it said was Iran launching ballistic missiles at US warships.

The new zone should be announced in the coming days and weeks and “will begin from the line of the US naval blockade, extend toward the Strait of Hormuz, and from this side continue into the Persian Gulf,” Rezaei said. “Any ship that enters this area with the intention of passing through the Strait of Hormuz and is identified will be placed on our sanctions list.

” It is not clear where Iran defines the location of the weeks-long US blockade, which is aimed at Iranian ports and keeping Iran from shipping out its oil. The US military has said more than 20 warships are supporting the blockade, which as of Sunday had redirected 92 commercial ships and disabled three.

The US has been introducing new measures to increase the economic pain on Iran after negotiations collapsed and no end to the intermittent fighting appears in sight. Meanwhile, Iran continues to attack some ships trying to transit the strait, which has become an important source of leverage in the war that began February 28 with US and Israeli strikes.

Iran earlier on Sunday said it struck an unmanned US vessel trying to enter the Strait of Hormuz, a claim that the US military dismissed as a “total lie”. The strait is crucial to global oil and natural gas shipments and was seen as an international waterway before the war began.

On Sunday, US Energy Secretary Chris Wright said that on average, nine million barrels of oil a day are getting through the strait, which should help to relieve pressure on energy prices. His estimate appeared to exceed average flows over the past 28 days through the strait, according to TankerTrackers.

com and other sources. Wright told CNN that with oil also flowing through pipelines in the region, “we’re probably two-thirds or more of pre-conflict flows”. But those flows depend on the presence of the US navy to help escort tankers and provide some protection against possible Iranian attack.

Wright said he expected that other countries would eventually support the US navy’s efforts. Meanwhile, Rezaei in his interview with state TV insisted that “every day we are selling one million, one and a half million (barrels), as if Iran’s oil production and trade are continuing as usual”.

Get the latest news from thewest.com.au in your inbox.

This is an entry from: Live: Iran turns to land trade routes to counter maritime blockade Iran accuses US of making world pay for war it started 6 September 2026 22:41 BST Iran’s Foreign Ministry spokesman Ismail Baghaei has accused Washington of blaming Tehran for turmoil caused by the US-Israeli war against Iran.

In a post on X, Baghaei said the Strait of Hormuz remained fully open until the US and Israel attacked Iran on February 28. He said Washington’s “illegal and brutal war” disrupted commercial shipping, halted oil tankers and drove up global energy prices.

Baghaei accused the US of starting the conflict and then attempting to make the rest of the world bear its costs while portraying Iran as responsible for the resulting crisis.

Iran War Day 191: Iran Threatens ‘More Intense and More Painful’ Retaliation After U.S. Strikes Mohammad Ghalibaf, the speaker of Iran’s parliament, issued new threats to the United States on Sunday. Following the apparent crippling of three Iranian oil tankers in U.

S. strikes on Saturday, Ghalibaf said his country would escalate its responses. “The era of proportionate responses has come to an end,” Ghalibaf asserted in a speech broadcast in Iran, adding that “any aggression against Iran's interests and security will receive a faster, more intense and more painful response.

” Iran’s Islamic Revolutionary Guard Corps also said it launched retaliatory attacks on several U.S.-affiliated ships Saturday, including what it claimed was a successful strike on a U.S. Navy drone (a Pentagon spokesman denied this). Subscribe Today Get daily emails in your inbox Elsewhere in the Middle East, Israel conducted strikes in southern Lebanon and the Gaza Strip.

Press reports indicate the strikes in Lebanon—which the IDF said followed an attempted Hezbollah attack on its troops—killed at least 7 and left 20 more injured. The strike in Gaza reportedly left two people dead, including a six-year-old girl. In the United States, Energy Secretary Chris Wright suggested the White House may never reach a deal to eliminate Iran’s nuclear program.

“There may not be a nuclear agreement,” Wright told ABC News on Sunday, “it may be simply destroying their capabilities to do it. An agreement may await the next administration in Iran. We simply don’t know that.” AAA reported that the average price of gasoline in the United States was $4.

15 per gallon.