The Market Has Found A Reason For Optimism: Saudi Arabia Has Changed Its Oil Prices
2- 18.09.2026, 9:59
- 1,412
Brent crude futures are falling for the third day in a row.
Oil prices are falling for the third day in a row amid hopes for a resolution regarding supplies from Saudi Arabia.
This was reported by Reuters. Brent crude futures fell 79 cents, or 0.75%, — to $104 per barrel, while futures for U.S. West Texas Intermediate (WTI) crude lost 70 cents, or 0.69%, to trade at $101.20 per barrel.
On September 17, both benchmark crude grades closed trading down by about 1%.
It is noted that Brent prices are on track for their first weekly decline in three weeks, down 0.5%, while WTI, on the other hand, may rise by 1.2%.
Markets largely ignored concerns about new threats to supplies, even though on Thursday Saudi Arabia and the Iranian-backed Houthis in Yemen exchanged new cross-border strikes, expanding the war front in the Middle East.
Prices fell following reports that Saudi Arabia plans to resume operations of the East-West oil pipeline within a few days at approximately half its capacity, and is also offering additional oil volumes to Asian refineries by transshipping cargo from tanker to tanker near the Omani port of Sohar.
“Recent efforts to restore Saudi Arabia’s export capacity have somewhat eased immediate concerns about supplies,” noted Priyanka Sachdeva , head of market analytics at Phillip Nova .
Sources who spoke with the agency provided varying estimates of how long it will take to resume pipeline operations and normalize oil flows.
“The key question is whether physical oil flows can be normalized and what the timeframe for this process might be. If we see a sustained improvement in tanker traffic through the Strait of Hormuz, part of the geopolitical premium in the price may continue to decline,” Sachdeva noted.
It is noted that transporting oil through this region carries risks. According to morning reports from Iranian state media, the Islamic Revolutionary Guard Corps Navy stated that on Thursday, an oil tanker flying the flag of Togo was struck while attempting to make an “illegal passage” through the Strait of Hormuz.
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