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The Middle East oil shock

Oil is sold on a world market, so Canadian refiners pay the world price. No official negotiations to end the war are under way.

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Claims from: No negotiations, and a US estimate of what the war costs · Show all story claims

Reuters reported on September 10, 2026 that Brent, the main world oil benchmark, closed at US$107.63 a barrel, up US$6.42 on the day. S&P Global Energy, quoted in the same report, said Brent had topped US$100 for the first time since July. When did Brent get back above US$100?

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