- September 16, 2026
- Posted by: Tresmark
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Oil prices slipped on Wednesday as a surprise increase in US crude inventories put pressure on prices, while investors continued to assess supply risks following disruptions to Saudi Arabia’s oil infrastructure.
Brent crude futures fell 93 cents, or 0.86%, to $107.82 a barrel, while US West Texas Intermediate (WTI) declined 97 cents, or 0.92%, to $104.86 a barrel in early trading.
Both benchmarks had gained more than $3 on Tuesday, reaching their highest levels since May 19, after Saudi Arabia suspended oil loadings at its Yanbu port following an attack on its East-West pipeline.
According to data cited from the American Petroleum Institute (API), US crude inventories increased by 7.1 million barrels in the week ended September 11. The build was significantly higher than the 1.6 million-barrel draw expected by analysts in a Reuters poll.
US gasoline and distillate inventories also increased, adding further pressure to oil prices. However, Haitong Futures said the rise in regional inventories does not change the broader picture of tightness in global crude supplies.
Saudi Arabia suspended oil loadings at Yanbu after shutting its East-West pipeline following an attack by Yemen’s Houthis. The pipeline is used to transport around 4 million barrels of oil per day, equivalent to roughly 4% of global supply, to the Red Sea port.
US Energy Secretary said oil flows through the key pipeline could resume within days. However, estimates on the repair timeline vary, with some sources expecting repairs to take five to six weeks, while partial operations could restart sooner.
Meanwhile, Libya’s National Oil Corporation said operations at three oil fields were suspended after members of the Petroleum Facilities Guard shut a valve on the Hamada-Zawiya crude export pipeline.
Despite the disruptions, Libya’s overall oil production has so far remained largely stable at around 1.4 million barrels per day.
