Crude oil prices continued their downward trend on Friday (September 18, 2026) and, after two days of decline, reached around $103.7 per barrel for Brent and $100.9 for WTI as concerns about supply in the Middle East eased.
Factors Affecting Oil Prices
The drop in oil prices, especially in global markets, has been attributed to strategic logistical actions and infrastructure improvements that have helped alleviate pressure on the market. Meanwhile, existing tensions between the United States and Iran continue to impact the market. Recently, Saudi Arabia has begun offering additional crude oil shipments to Asian refiners through ship-to-ship transfers near the Port of Sohar in Oman. This action has helped calm the oil market and reduced panic over supply disruptions.
Energy Market Analysis
According to published reports, the repair of the East-West oil pipeline in Saudi Arabia, which had been disrupted due to recent attacks, is progressing. US energy ministers have stated that this disruption is expected to last a few days and is not generally considered a long-term halt. This pipeline transports oil from the eastern oil-producing region of Saudi Arabia to the Red Sea port of Yanbu and serves as an alternative route that reduces dependence on the Strait of Hormuz.
Despite the price drop, the overall state of the energy market remains fragile. Commercial traffic in the Strait of Hormuz has been severely disrupted, and Saudi Arabia is searching for alternative methods to maintain oil flow to Asian buyers. Saudi Aramco has offered additional shipments of medium and heavy Arab crude for loading near the Port of Sohar. These shipments are transferred from vessels that have entered the Gulf waters and the Strait of Hormuz to other vessels to mitigate logistical risks and supply disruptions to Asian buyers.
Analysts believe that this strategy will help reduce disruptions and logistical risks, but challenges remain. For example, crude oil must be transported to the transfer area, and some Gulf producers are using tankers with their tracking systems turned off to pass their shipments through these waterways.
Overall, oil prices, despite the recent decline, remain above $100, and concerns about risks in the Strait of Hormuz continue.
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