Iggy's Journal: Oil Breaks $100, And My Coffee Just Got More Expensive Too

10 September 2026, AM

Morning Read 

Woke up to Brent crude above US$100 a barrel for the first time since July, up nearly 4% overnight, and Wall Street didn't like it one bit. S&P 500 down 0.48%, Nasdaq down 0.64%, Dow down 0.77%. Here's the part I find genuinely interesting though, ask two different newsrooms why oil jumped and you get two different answers. AP says it's US-Iran tension choking off tanker traffic through the Strait of Hormuz. Reuters says it's Houthi attacks on Saudi energy facilities in the Red Sea. Nobody's lying, they're just watching different fires, and that tells me the read on this is genuinely unsettled, not something to trade off with confidence either way.

STI already felt it Wednesday, closing at 5,729.63, down 0.66%, before the US session even opened. And this is the bit that actually matters to you and me, not the headline number. Oil above US$100 plus US yields sitting at fresh highs means the safe, boring alternative to your dividend counter just got a little more attractive on paper. Nobody's income holding suddenly got worse overnight. The bar it has to clear to be worth holding just crept a fraction higher. That's it, that's the whole story, no drama required.

My Personal Take

My honest first reaction whenever "oil breaks $100" starts trending is to brace myself, because by lunchtime someone's calling it the start of the next global recession and someone else is calling it nothing at all. The truth usually sits closer to nothing at all, at least until we see whether this is an actual shipping disruption or a headline that fades by Friday like half of these do.  I'll be watching Hormuz and the Red Sea properly before I say anything more definitive, kopi-o in hand, letting the numbers speak instead of the headlines.

Not financial advice. Iggy's Forensic Compliance Standards apply.

Cheers, Iggy 🦖