Crude oil above 92 dollars and US ten-year at 4.818%
Development from this morning: the 6:30 edition recorded oil retreating below 90 dollars. Weekly closing data and figures from September 6 show the opposite movement, and US yields climb to their highest since late 2023.
This morning this newspaper opened its markets page with crude retreating and the cost of money rising. The first of these two movements has reversed: on September 6, 2026, crude oil touched 92.06 dollars a barrel, up 0.63% from the previous session, according to Trading Economics data on contracts for difference.
The movement is not confined to a single day. Over the past month the price has risen by 17.75%, and by 47.86% compared with the same period last year. The week closed around 91 dollars with a gain of nearly 9%: the best week since mid-July.
| Indicator | Value | Change |
|---|---|---|
| Crude oil, September 6 | 92.06 dollars/barrel | +0.63% from previous day |
| Crude oil, past month | — | +17.75% |
| Crude oil, year over year | — | +47.86% |
| Ten-year Treasury | 4.818% | highest since November 2023 |
| S&P 500, September 2 | 7,666.60 | +0.46% |
| Nasdaq, September 2 | 26,217.83 | +0.45% |
| Dow Jones, September 2 | 53,061.95 | +0.56% |
Where the push is coming from
The factor indicated by the data is supply risk. Brent advanced 0.6% after Iran declared it had struck oil tankers in the Strait of Hormuz, Bloomberg reports: according to the Iranian statement, the targets were three tankers using an unauthorized route and several vessels linked to the United States, presented as retaliation for American attacks on Iranian vessels. In the preceding days Kuwait’s military had reported intercepting missiles and drones coming from Iran, CNBC reports.
The distinction must be kept firm: the statements about the tankers are partisan claims, reported as such; the price of the barrel, by contrast, is measured data. The market reacts to the announcement before and independently of any verification.
On the supply side, one useful figure for scale: Iraqi crude oil exports averaged 2.35 million barrels a day in August, mostly through southern routes.
The cost of money
The yield on the US ten-year Treasury touched 4.818%, a level not seen since November 2023, according to CNBC. American stock markets had been pressured in previous sessions precisely by high yields and fears that oil prices would feed through into inflation.
The president of the Federal Reserve Bank of New York, John Williams, attributed the rise in yields to the strength of the economy rather than to any market malfunction. On the possibility of a rate intervention he did not commit: “We have to wait and see” (transl. from English).
The seven-day balance, in T. Rowe Price’s reading, is divergent among US indices: minus 0.27% for the Dow Jones, plus 0.40% for the Nasdaq. Three indices, however, remain nearly flat: the S&P 500, the Russell 2000 and the S&P MidCap 400. The energy sector was the best performer in the S&P 500.
What we don’t know
We don’t know whether the Iranian statements correspond to attacks verified by third parties, and today’s material does not include independent confirmation regarding the vessels named. We don’t know how much of the rise in the barrel price is a risk premium and how much reflects actual changes in transit volumes. We don’t know the formal position of the Federal Reserve for the September meeting: Williams’s statement was an individual one.
The reference figures remain three: 92.06 dollars a barrel on September 6, a weekly gain of nearly 9%, and a US ten-year yield at 4.818%.
Sources: Trading Economics; Bloomberg; CNBC; CNBC; T. Rowe Price.
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