Mexico's export crude blend closed on Wednesday, September 9, 2026, at 100.04 dollars a barrel, a gain of 6.1% in a single session and its first close above 100 since May 22, according to the price published by Pemex.
The move followed the rally in international crude. According to La Jornada, North Sea Brent closed at 101.21 dollars a barrel, 3.4% more than Tuesday, and West Texas Intermediate ended at 96.05 dollars. Both benchmarks reacted to the attacks between the United States and Iran in the Strait of Hormuz and to the recovery of Chinese buying, according to Banamex analysts cited by El Universal. The figure matters for Mexico because the export blend is the reference at which Pemex sells its crude abroad and one of the variables the market tracks to anticipate the behavior of the country's oil revenues. La Jornada reported that the conflict has closed almost the entire passage through the Strait of Hormuz.
All three benchmarks closed higher on Wednesday: the Mexican blend gained 6.1%, Brent 3.4% and WTI 3.25%, according to the closes compiled by El Universal and La Jornada. On Tuesday, the national crude had traded at 94.27 dollars, so the single-session jump was 5.77 dollars a barrel. In the Asian session the following morning, Brent traded at 101.31 dollars, down 0.34% on profit-taking, and WTI at 96.90 dollars, La Jornada reported. Pemex estimates that price using formulas by geographic region and the daily close of the corresponding quotes, and publishes it for informational purposes.
The evolution of the conflict continues to set the direction for crude. US President Donald Trump said, in remarks reported by La Jornada, that he is not seeking an agreement with Iran and that oil prices will not fall until after the November midterm elections, a calendar that traders will watch in the coming weeks.
This article was written with the assistance of artificial intelligence based on verified sources and reviewed by a human editor before publication.