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2026-09-21 14:52:11
[Oil Prices Continue to Fall as Supply Concerns Ease] 1. On Monday, oil prices continued their decline as market concerns about supply disruptions eased. Crude oil retreated from recent highs above $100 per barrel, with the near-month West Texas Intermediate (WTI) contract fluctuating below a key psychological level. US crude oil futures for November delivery are currently down nearly 2%, trading around $94.19 per barrel, while Brent crude oil futures for November delivery are currently down 1.95%, trading around $101.83 per barrel. 2. ANZ research analysts stated that initial concerns about a prolonged disruption to Saudi oil pipelines are easing. Reports indicate that Riyadh expects the east-west pipeline to restore about half of its capacity within days. The 750-mile-long pipeline, which allows Saudi oil to bypass the Strait of Hormuz amid ongoing Middle East conflict, was shut down earlier this month after a drone attack. 3. The market continues to assess the long-term impact of Houthi attacks on Saudi Arabia in Yemen. ANZ analysts believe that such attacks highlight the risk of future supply disruptions, and escalating regional conflict could further restrict Persian Gulf oil exports. 4. In a Fox News interview on Sunday, Trump said the US was in "decisive mode" regarding the conflict with Iran and warned that "big things" could happen in the near future. He said the question was whether and when to "bomb the whole country," adding that Iran "had better behave." He also added that he might be willing to meet with Iranian President Pezechzian this week during the UN General Assembly in New York.
