West Texas Intermediate and Brent crude prices declined after Saudi Arabia resumed operations at the East-West Pipeline on September 22, 2026, and was able to resume oil exports through the Yanbu port the same day, easing market concerns over oil supply risks from the conflict situation in the Middle East. WTI crude stood at 94.59 dollars per barrel, down 1.19 dollars per barrel, while Brent crude stood at 99.25 dollars per barrel, down 1.09 dollars per barrel. However, returning the pipeline to full capacity may take approximately 6-8 weeks. The market is still monitoring the situation around the Strait of Hormuz after Iran expressed readiness to reopen the strait within 7 days if the United States eases military pressure and ends its blockade of Iranian ports. Meanwhile, President Donald Trump has lowered expectations for a near-term peace deal with Iran, stating that an agreement may come after the U.S. midterm elections in early November 2026, and the market is also watching the United Nations General Assembly, or UNGA, meeting in New York this week.
Restored Saudi pipeline and Yanbu port exports ease Middle East supply concerns, pushing Brent crude down.
Saudi Arabia resuming East-West Pipeline operations and Yanbu port exports eases oil supply-risk concerns, pressuring WTI crude lower.
