Crude oil prices extended their decline on Thursday, September 17, 2026, with West Texas Intermediate (WTI) falling 1.55% to $100.80 a barrel and Brent crude, the international benchmark, dropping 2.16% to $103.50 a barrel.
The latest decline extends losses recorded over the past two sessions, as markets reassess the immediate impact of supply disruptions linked to escalating tensions in the Middle East.
WTI traded at about $101.70 a barrel and Brent at $105.70 on September 15, after both benchmarks had surged on concerns over potential disruptions to crude exports from the region. On Wednesday, September 16, WTI was around $103.50 while Brent traded near $107.10.
Thursday’s losses put both benchmarks at their lowest levels in roughly a week, although prices remain above the $100-a-barrel threshold.
Oil prices are still substantially higher than at the beginning of last week, when WTI was trading around $92–93 a barrel and Brent near $97. The rally accelerated around September 10 as concerns intensified over the security of the Strait of Hormuz, damage to Saudi Arabia’s East-West pipeline and the wider risk of disruptions to Middle Eastern oil supplies.
The latest pullback has been partly driven by efforts to find alternative routes for Saudi crude shipments. Saudi Arabia is reportedly offering additional crude cargoes to Asian refiners through ship-to-ship transfers off Oman’s Sohar port, helping to compensate for some of the disruption caused by the pipeline outage.
US Energy Secretary Chris Wright has also indicated that the East-West pipeline could return to service relatively quickly, reducing expectations of a prolonged supply shortfall.
