Oil prices fall for third session after four-month peak

September 18, 2026 at 08:09 AM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

Global oil prices fell for a third consecutive session on Friday, with Brent and WTI each losing about 1%. The decline came despite ongoing Middle East tensions, as investors bet supply disruptions will be limited and Saudi Arabia will quickly restore alternative export routes.

Key Facts

Brent futures fell $1.01 to $103.77 per barrel on Friday.
WTI futures fell $1.03 to $100.88 per barrel.
Three pumping stations on the East-West pipeline were damaged, one more than previously thought.
Saudi Arabia aims to restore about half of the pipeline's capacity within days, according to Bloomberg.
US Energy Secretary Chris Wright said pipeline flows should resume in the coming days.

Price Decline

Brent futures fell $1.01 to $103.77 per barrel on Friday. WTI futures fell $1.03 to $100.88 per barrel. Both benchmarks had also closed about 1% lower the previous day. The decline came despite ongoing Middle East tensions.

Supply Disruptions

Satellite images and three industry sources showed three pumping stations on the East-West pipeline were damaged, one more than previously thought. Traders noted that a prolonged halt of this infrastructure could cut global oil supply by up to 4%. Saudi Arabia is considering ways to compensate for the disruptions. According to Bloomberg, the kingdom expects to restore about half of the pipeline's capacity within days. Additional oil cargoes have been offered to Asian refineries with ship-to-ship transfer at the port of Sohar in Oman.

Regional Tensions

On Thursday, Saudi Arabia and Iran-backed Houthi rebels exchanged cross-border strikes, widening the conflict's geography. Tensions also persist around the Strait of Hormuz, a key route for global oil trade. Iranian state media reported that a Togo-flagged tanker was struck while attempting to pass through the strait. JPMorgan said it no longer has a clear base-case scenario for the oil market for the first time since the start of the US-Israeli war against Iran.