Oil prices set for weekly fall on easing fears over Saudi supply disruption
Crude oil prices fell for the third consecutive day, with West Texas Intermediate slipping below $100 per barrel as market fears over Saudi supply disruptions eased. The decline followed reports of a Saudi oil workaround involving crude transfers through Oman, which allayed concerns regarding a complete export stoppage. Despite fresh Houthi strikes and constrained traffic in the Strait of Hormuz, overall market reaction shifted as supply disruptions appeared less severe than initially feared following earlier drone attacks on the East-West pipeline.
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- ✓ Oil prices fell for the third consecutive day, with West Texas Intermediate slipping below $100 per barrel.
- ✓ Saudi Arabia was forced to shut its East-West pipeline last week after a drone attack.
- ✓ WTI retreated as Saudi crude transfers through Oman helped ease fears of a complete export stoppage.
What changed
West Texas Intermediate crude retreated below $100 per barrel as market participants factored in Saudi crude transfers through Oman.
Live updates
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Oil Prices Slip Below $100 on Easing Saudi Supply Fears
Crude oil prices fell for the third consecutive day, with West Texas Intermediate slipping below $100 per barrel as market fears over Saudi supply disruptions eased. The decline followed reports of a Saudi oil workaround involving crude transfers through Oman, which allayed concerns regarding a complete export stoppage. Despite fresh Houthi strikes and constrained traffic in the Strait of Hormuz, overall market reaction shifted as supply disruptions appeared less severe than initially feared following earlier drone attacks on the East-West pipeline.
Why it matters
Global markets were rattled over the past week by Houthi attacks targeting infrastructure critical to Saudi oil exports. The security threats at the Bab al-Mandeb strait and subsequent pipeline damage initially stoked worries about severe energy shortages and tighter diesel supplies. However, the implementation of alternative transport routes has helped stabilize prices.
What is confirmed
- Oil prices fell for the third consecutive day, with West Texas Intermediate slipping below $100 per barrel.
- Saudi Arabia was forced to shut its East-West pipeline last week after a drone attack.
- WTI retreated as Saudi crude transfers through Oman helped ease fears of a complete export stoppage.
Still unconfirmed
- Saudi Aramco will not supply European oil refiners with crude in October according to unnamed sources.
What to watch next
- Developments regarding the repair status of the damaged East-West pipeline
- Changes to Houthi attack patterns around Bab al-Mandeb and the Strait of Hormuz
- Further confirmation of Saudi crude transfer volumes through Oman
confidence 90%Sources used for this update (10)
- Al Jazeera — ‘They called us’: Has Trump abandoned Bab al-Mandeb to the Houthis?
- apnews.com — What to know after a week of Houthi attacks that threaten Saudi oil and have rattled world markets
- Reuters — Oil prices fall 1% on hopes of limited supply disruptions
- CNBC — Oil prices fall as Saudi supply hopes outweigh fresh Houthi strikes
- WSJ — Oil Prices Fall for Third Day as WTI Slips Below $100
- oilprice.com — WTI Retreats as Saudi Oil Workaround Eases Supply Fears
- seekingalpha.com — Oil falls for third straight day as Saudi supply disruptions look less severe than feared
- www.jamessharp.co.uk — 18th September 2026
- www.straitstimes.com — S&P 500, Nasdaq advance, turning the page on a tumultuous week
- www.straitstimes.com — Saudi Aramco will not supply European oil refiners with crude in October: Sources
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