Brent crude futures fell 93 cents to $107.82 a barrel even amid supply risks: Here’s what’s happening
Data cited from the American Petroleum Institute showed that US crude, gasoline and distillate inventories all increased last week.
- Sep 16, 2026,
- Updated Sep 16, 2026 8:16 AM IST
Crude oil prices fell on Wednesday after a larger-than-expected build in US crude inventories put pressure on prices, even as investors continued to monitor supply risks following Saudi Arabia’s suspension of oil loadings at its Yanbu port.
Brent crude futures fell 93 cents, or 0.86%, to $107.82 a barrel, while US West Texas Intermediate futures declined 97 cents, or 0.92%, to $104.86 a barrel. Both benchmarks had gained more than $3 on Tuesday, reaching their highest levels since May 19 amid concerns over supply disruptions and Saudi Arabia’s reduction in oil shipments to Europe.
Data cited from the American Petroleum Institute showed that US crude, gasoline and distillate inventories all increased last week. Crude inventories rose by 7.1 million barrels in the week ended September 11, against analysts’ expectations of a 1.6 million-barrel draw, according to a Reuters poll.
Haitong Futures said unexpected increases in gasoline and diesel inventories weighed on prices, while noting that regional stock increases did not change the underlying tightness in the global crude market.
Saudi supply disruption
Supply concerns remained after oil loadings at Saudi Arabia’s Yanbu port were suspended following the kingdom’s shutdown of the East-West pipeline after an attack by Yemen’s Iran-aligned Houthis on Friday.
The 1,200-km pipeline can reroute around 4 million barrels per day, equivalent to about 4% of global supply, to the Red Sea port.
US Energy Secretary Chris Wright told CNBC that crude flows through the pipeline should resume within days and said Saudi Arabia was working with US military assistance to move more oil out of the Strait of Hormuz.
However, estimates for the pipeline’s downtime varied. One source said repairs could take five to six weeks, while another said partial pumping could resume sooner as repairs continue.
DON'T MISS | Houthis attack Saudi Arabia airbase as Hormuz talk stalls; oil climbs to nearly $107
Libya disruption
In Libya, the National Oil Corporation said operations at three oil fields were suspended after protesting members of the Petroleum Facilities Guard shut a valve on the Hamada-Zawiya crude export pipeline. NOC Chairman Massoud Suleman said oil production remained stable at around 1.4 million barrels per day.
Overall, the US inventory build pressured crude prices, while supply risks persisted amid the Saudi disruption and uncertainty over the East-West pipeline’s return to normal operations.
Crude oil prices fell on Wednesday after a larger-than-expected build in US crude inventories put pressure on prices, even as investors continued to monitor supply risks following Saudi Arabia’s suspension of oil loadings at its Yanbu port.
Brent crude futures fell 93 cents, or 0.86%, to $107.82 a barrel, while US West Texas Intermediate futures declined 97 cents, or 0.92%, to $104.86 a barrel. Both benchmarks had gained more than $3 on Tuesday, reaching their highest levels since May 19 amid concerns over supply disruptions and Saudi Arabia’s reduction in oil shipments to Europe.
Data cited from the American Petroleum Institute showed that US crude, gasoline and distillate inventories all increased last week. Crude inventories rose by 7.1 million barrels in the week ended September 11, against analysts’ expectations of a 1.6 million-barrel draw, according to a Reuters poll.
Haitong Futures said unexpected increases in gasoline and diesel inventories weighed on prices, while noting that regional stock increases did not change the underlying tightness in the global crude market.
Saudi supply disruption
Supply concerns remained after oil loadings at Saudi Arabia’s Yanbu port were suspended following the kingdom’s shutdown of the East-West pipeline after an attack by Yemen’s Iran-aligned Houthis on Friday.
The 1,200-km pipeline can reroute around 4 million barrels per day, equivalent to about 4% of global supply, to the Red Sea port.
US Energy Secretary Chris Wright told CNBC that crude flows through the pipeline should resume within days and said Saudi Arabia was working with US military assistance to move more oil out of the Strait of Hormuz.
However, estimates for the pipeline’s downtime varied. One source said repairs could take five to six weeks, while another said partial pumping could resume sooner as repairs continue.
DON'T MISS | Houthis attack Saudi Arabia airbase as Hormuz talk stalls; oil climbs to nearly $107
Libya disruption
In Libya, the National Oil Corporation said operations at three oil fields were suspended after protesting members of the Petroleum Facilities Guard shut a valve on the Hamada-Zawiya crude export pipeline. NOC Chairman Massoud Suleman said oil production remained stable at around 1.4 million barrels per day.
Overall, the US inventory build pressured crude prices, while supply risks persisted amid the Saudi disruption and uncertainty over the East-West pipeline’s return to normal operations.