Key TakeawaysBrent crude reached $98.73 per barrel while WTI touched $94.14 following Iranian threats against energy infrastructure in the Gulf regionTehran issued warnings about implementing a maritime exclusion zone throughout the Persian Gulf as retaliation for U.S. “economic warfare”Focus intensifies on the Strait of Hormuz as Iran reveals ongoing negotiations with Oman regarding shipping protocolsSaudi Aramco’s facilities in Jazan sustained an attack on Monday, resulting in minimal damageCrude prices have surged over 30% since hostilities commenced in late February, with Brent jumping 8% in the previous weekOil prices experienced a sharp rally on Tuesday following Iran’s intensified rhetoric targeting energy infrastructure throughout the Gulf region, propelling Brent crude within striking distance of the $100 threshold.Brent futures advanced 1.6% to reach $98.73 per barrel, while U.S. West Texas Intermediate jumped 2.9% to $94.14. Monday had already seen Brent settle approximately 1% higher after momentarily reaching $98.Brent Crude Oil Last Day Financial Futures (BZ=F)The price surge follows a weekend marked by reciprocal strikes between Washington and Tehran, which included assaults on vessels navigating the Persian Gulf.Tehran issued threats to counter what Iranian officials characterized as U.S. “economic warfare” through the establishment of a maritime exclusion zone spanning the Persian Gulf. Mohammad Baqer Qalibaf, Iran’s Parliament Speaker, cautioned that American energy corporations with operations in the area face significant vulnerability.“The oil and gas production chain here is sprawling, accessible, and exposed,” he stated. “Strike our assets, and you get struck. We’ve already proven it.”Mohsen Rezaei, who serves as secretary of Iran’s Supreme National Security Council, declared on X that Washington had been issued a “clear warning” and that continued economic warfare would result in a maritime exclusion zone extending to match the boundaries of the U.S. blockade.Strait of Hormuz Becomes Primary Market FocusThe Strait of Hormuz, a critical chokepoint for global oil transportation, has become the primary concern for energy traders.BREAKING: Iran rejects the proposal, saying Iran sets the conditions of any proposal and the US "repeated violations" and shifting positions make talks currently impossible, per a senior source in Tehran to RT.Iran says all conditions must be met first, which remain unchanged:… https://t.co/yUhzRTH2Jr— The Hormuz Letter (@HormuzLetter) September 7, 2026Iranian officials announced intentions to establish a new restricted maritime zone in the Gulf coupled with an alternative shipping corridor. This announcement heightened concerns about potential delays in tanker movements through this vital waterway.Tehran also indicated that negotiations with Oman concerning Hormuz shipping protocols are nearing completion, characterizing the talks as entering their concluding phase. The proposed agreement would establish a temporary secure passage through the strait.Nevertheless, market participants remain doubtful that diplomatic efforts will yield a swift resolution to the underlying conflict.Chris Wright, U.S. Energy Secretary, noted that approximately 8 million barrels per day continue to exit the Persian Gulf on average, although tanker vessels routinely disable their transponders to evade detection.Saudi Infrastructure TargetedOn Monday, Saudi Aramco’s energy installations in Jazan, located near the Red Sea coast, were subjected to another assault. While the attack resulted in limited damage, it represents the latest incident in a succession of strikes that have already compelled a nearby refining facility to suspend operations.Crude prices have now climbed more than 30% since the conflict’s inception at the conclusion of February. Brent registered an 8% gain last week, while WTI advanced nearly 10%.Market participants continue monitoring developments for any indications of further escalation or diplomatic progress that could alter supply expectations.The post Oil Prices Surge Toward $100 as Iran Issues Gulf Infrastructure Threats appeared first on Blockonomi.