Brent Tests $100 After US Hits Five Iranian Tankers

As flagged in Tuesday's evening review, the hot-oil path tagged its trigger. WTI printed a 94.73 dollar high and the S&P 500 closed 7,673.52, through the 7,694.75 bearish trigger. Overnight the oil tape kept going. Brent tests the 100 dollar handle after US Central Command said it destroyed five Iranian oil tankers. Overnight E-mini futures sit near 7,662. Catch up: Tuesday's analysis. This is the morning scorecard, not an instruction.

The Setup: Overnight ES Near 7,662

The S&P 500's last cash print remains Tuesday's 7,673.52, down 0.58 percent (AP News, MarketWatch, Yahoo). The Nasdaq Composite closed 26,421.41, down 0.32 percent. The Dow closed 52,786.07, down 1.18 percent. US cash has not opened. Index figures below are Tuesday close plus overnight futures.

E-mini S&P 500 futures are near 7,662 as of about 08:00 UTC, labeled overnight futures (MarketWatch 7,662.50; Investing.com about 7,650 to 7,662; Barchart 7,651 to 7,654). That is about 12 points below Tuesday's cash close and about 18 points below Tuesday's 7,680.50 ES settlement. Range 7,647.25 to 7,691.25. Dow mini futures last printed about 52,519.

Story of the Day: Brent Tests $100 After Five Tanker Hits

The live tape is crude. West Texas Intermediate is near 94.57 dollars (Investing.com 94.57 as of about 07:34 UTC; GuruFocus 94.46; CNBC about 94.66), a hold above Tuesday's 93.03 settlement after the 94.73 high. Range today about 93.77 to 94.85. Brent is near 99.44 dollars (CNBC 99.44; Moneycontrol 99.49), testing 100 after Tuesday briefly neared 99.50.

US Central Command said it destroyed five Iranian crude carriers after the IRGC fired ballistic missiles at a US Navy warship twice in two days. Named hulls: Kaviz, Charminar, Horizon 1 and Riesco in the Gulf of Oman, and Derya near Kharg Island. Crews were told to abandon ship. The IRGC said it answered with missile fire at Al Azraq in Jordan and warned tankers near Kuwait and Bahrain to evacuate. Houthi strikes on Saudi energy sites remain on the tape. The United States has now hit eight Iranian tankers in four days. Traders watching Tuesday's 94.73 WTI high as the cleared reference. A slip back through Tuesday's 93.03 settlement would fade the strike premium. These are observations, not instructions.

China PPI Hits 3.8% as Energy Passes Through

China's August prints landed on schedule. CPI rose 0.8 percent year on year, in line with forecasts, up from July's 0.5 percent, and 0.4 percent month on month (National Bureau of Statistics, CNBC, China.org.cn). Core CPI rose to 1.0 percent. Energy prices jumped 4.1 percent year on year, gasoline 9.3 percent. PPI rose 3.8 percent year on year, above the 3.6 percent forecast and July's 3.5 percent, and 0.4 percent month on month after a 0.7 percent drop. Oil extraction prices surged 10.4 percent month on month. The factory-gate print is energy and metals, not household demand. That pass-through sits on Thursday's US PPI and Friday's CPI.

Gold Holds $4,404 After Tuesday's Fade

The gold-fade path printed Tuesday, then overnight buyers showed up. Spot gold is near 4,404 dollars (TradingView 4,403.595 as of September 9), a bounce from Tuesday evening's 4,358 after the metal ran through last Wednesday's 4,365. An overnight Dow Jones print near 4,347 faded. The 10-year recently tagged about 4.81 percent. CME FedWatch still assigns better than even odds of a 25-basis-point hike on September 15-16. Traders watching 4,400 as the reclaimed reference. A reclaim of Friday's 4,430 would repair more of the fade. A slide back through Tuesday's 4,358, then September 2's 4,283, would deepen it. These are technical reference points, not instructions.

Crypto: Bitcoin Reclaims $79,155

Digital assets repaired Tuesday's fade. Bitcoin is near 79,155 dollars (TradingView 79,155, up 0.80 percent on the 24-hour FAQ; CoinMarketCap about 79,157 at 06:49 UTC), a bounce from Tuesday evening's 78,457 and Tuesday's low near 77,620. The 80,000 reclaim named as the bullish trigger still has not printed. Ether is near 2,510 dollars (TradingView 2,509.5; CoinMarketCap about 2,487 to 2,494). Live levels sit on the ThriveInMarkets homepage. Bullish trigger remains a reclaim of 80,000 dollars, then last Thursday's 82,000 area. Bearish trigger: a slip through 75,000. These are reference points, not instructions.

What's Next: Apple, ECB, PPI, Then Friday CPI

Three scenarios frame the session, not a recommendation. In a contained-oil path, WTI slips back through Tuesday's 93.03 settlement and ES leans on 7,673.52. In a hot-oil path, a hold above Tuesday's 94.73 WTI high, or Brent through 100, would add another inflation impulse into Thursday PPI and Friday CPI. In a gold-repair path, a hold of 4,400 would confirm overnight buyers after Tuesday's fade through 4,365. Traders watching 7,673.52 as the cash reference. Bullish trigger: a reclaim of Friday's 7,718.60, then September 3's 7,747.71. Bearish trigger: a slide through Tuesday's 7,666.99 cash low, then September 1's 7,631.47.

Apple's "Surprise and Shine" event lands at 17:00 UTC, John Ternus's first as CEO, with iPhone 18 Pro and a rumored foldable on the docket. Thursday: ECB, fully priced for a hike to 2.50 percent, US PPI, Oracle and Adobe after the close. Friday 12:30 UTC: August CPI. Docket: week-ahead note. Calendar: calendar.

For live prices see the ThriveInMarkets homepage. None of the above is a recommendation to buy or sell any asset. Index closes are Tuesday, September 8, 2026; gold, oil, Bitcoin and Ether are live as of 08:00 UTC on September 9, 2026.