By 14:07 Moscow time on September 1, the benchmark North Sea Brent crude price reached $92.20 per barrel. ^[1] On September 1, trading prices for oil accelerated upward as mutual missile strikes between the United States and Iran resumed in the Middle East. ^[2] Oil prices rose by nearly 2% on Tuesday as renewed confrontations between the United States and Iran in the Middle East revived fears of supply interruptions from the world's main crude-producing region. ^[3] Ole Hansen, head of the commodity strategy department at Saxo Bank, stated that sharp fluctuations in global oil prices are largely due to uncertainty in the Middle East. ^[4] Analysts linked the sharp increase in oil prices primarily to the latest escalation of the conflict in the Middle East. ^[5] At 10:46 GMT, Brent futures gained 1.72 dollars, or 1.9%, to $92.21 per barrel, while West Texas Intermediate futures in the United States improved 2.12 dollars, or 2.47%, to $87.88 per barrel. ^[6] On Monday, two super tankers carrying Saudi crude were hit by projectiles of unknown origin with a few minutes of difference while transiting the Strait of Hormuz. ^[7] US President Donald Trump threatened new attacks against Iran on Monday following the first direct exchange of attacks between the two countries since late July, increasing tensions in a conflict that recently shifted to an economic confrontation. ^[8]