Dubai \u2013 Business News Report|| Oil prices declined by more than 1% during trading sessions on Friday, September 18, 2026, continuing their streak of losses for the third day in a row. Markets are closely monitoring developments regarding supply disruptions from the Middle East region.<\/p>\n
Fading concerns about potential disruptions to Saudi supply chains overshadowed broader anxieties regarding the expansion of conflict in the Middle East. This shift occurred even as fighting renewed between Saudi Arabia and Houthi forces in Yemen, highlighting the complex interplay of regional hostilities affecting energy markets.<\/p>\n
Markets largely ignored new threats to supplies despite fresh exchanges of strikes between Saudi Arabia and Iran-backed Houthis across their borders on Thursday. These actions effectively widened the war front in the Middle East, yet traders remained focused on immediate logistical realities rather than speculative escalation risks.<\/p>\n
By 05:49 GMT (08:49 Mecca time), standard Brent crude futures for November 2026 delivery dropped 1.38% to reach $103.37 per barrel. Simultaneously, US West Texas Intermediate crude futures for October 2026 delivery fell 1.02%, settling at $100.87 per barrel, according to real-time figures tracked by Washington-based Energy Platform.<\/p>\n
The two benchmark crudes had previously declined by 0.51% in the last session after fears of halted Saudi oil exports subsided. This relief followed the Kingdom\u2019s offer to ship additional crude volumes via Oman, stabilizing short-term supply expectations and halting further downward pressure on prices.<\/p>\n
Brent is heading toward its first weekly loss in three weeks, down 0.5%, while WTI is expected to rise 1.2%. Earlier this week, prices neared four-month highs after Saudi Arabia suspended loading operations at its Red Sea export center in Yanbu due to pipeline damage from a recent attack.<\/p>\n
Riyadh subsequently canceled some shipments to Europe but sought to restore half of the East-West pipeline capacity within days. Additionally, the Kingdom increased crude deliveries to Asian refineries through ship-to-ship transfers off the port of Sohar, Oman, demonstrating adaptive logistics strategies.<\/p>\n
Brianka Sachdeva, Head of Market Insights at Philip Nova, stated that recent efforts to restore Saudi export capacity have reduced some near-term supply concerns. However, analysts note that prices remain elevated above $100 per barrel as markets await clear evidence of improved supply flows.<\/p>\n
Sachdeva emphasized that the key question remains whether physical flows can return to normal and what the timeline might be. She suggested that sustained improvement in traffic through the Strait of Hormuz could diminish geopolitical significance over time. Meanwhile, Iranian state media reported that the Revolutionary Guard attacked a Togolese-flagged tanker attempting illegal passage through the strait on Thursday.<\/p>\n
No peace talks have been held between the US and Iran since the temporary agreement collapsed in June. The conflict will be discussed at the UN General Assembly next week, with an Iranian delegation permitted to attend, according to the US State Department.<\/p>\n
This story was produced in the newsroom from the disclosed sources named above.<\/em><\/p>\n