
Brent crude nears $108 as Saudi Arabia shuts key pipeline
The pipeline shutdown may exacerbate global oil supply issues, potentially driving prices higher and impacting economic stability worldwide.

The pipeline shutdown may exacerbate global oil supply issues, potentially driving prices higher and impacting economic stability worldwide.

Banks including Goldman Sachs, Bank of America, Commerzbank, and HSBC have lifted their Brent crude forecasts due to ongoing Middle East shipping issues in the Strait of Hormuz.

A drone strike shut down Saudi Arabia’s East-West oil pipeline this week, knocking roughly 5 million barrels a day offline. That’s about 5% of global supply, and it pushed Brent crude above $104. US diesel is at record highs. That’s the fossil fuel crisis making headlines. The quieter one is on your own utility bill, and it’s not getting better either. more…

Brent is sitting a touch above $104 this morning, down slightly from yesterday's surge. The Strait of Hormuz, which used to move something like a fifth of the world's oil and LNG before the war, has been effectively shut since March. Saudi output dropped around 1.9 million barrels a day in August, tanker rates are breaking records, and the EIA doesn't see Middle East production back near pre-conflict levels until the second quarter of 2027. Meanwhile, the European Union imports 57 percent of the energy it consumes and spent €340 billion on…

Houthi strikes threaten Saudi oil exports as Brent hits $105 and Middle Eastern crude soars to $120. Friday, September 11, 2026 Houthi strikes on Saudi Arabia’s oil infrastructure have alerted the oil markets to the possibility of seeing even less Middle Eastern supply than before, with potential damage to the East-West pipeline jeopardizing 3-4 million b/d of Saudi crude exports. Whilst the meeting of Gulf foreign ministers over the weekend has poured some cold water on runaway crude prices, ICE Brent at $105 per barrel (and available Middle…

The decline snapped multi-day winning streaks for both Brent and WTI crude oil futures.
Brent crude and West Texas Intermediate’s front-month contracts edged lower on reports of plans for diplomatic talks between Gulf states.

Rising oil prices and inflation fears could strain global economies, impacting consumer spending and central bank policies worldwide.

Iran-backed Houthi forces seized Yemen's Mocha port and advanced toward Bab el-Mandeb, threatening Red Sea shipping as Brent crude surged past $106.


Rising Brent prices amid geopolitical tensions could strain global economies, impacting inflation and energy policies worldwide.

Rising Brent crude prices signal potential global economic instability due to increased geopolitical tensions affecting energy markets.

Rising oil prices due to geopolitical tensions could strain global economies, increase inflation, and impact energy policies worldwide.
US stocks fell for a third day as the 10-year Treasury yield hit 4.857% and Brent crude jumped toward $101 a barrel.
Trump says oil prices stay high until after the midterms as Brent hits May highs and Bitcoin holds near $79,000.

Bitcoin is holding above $78,000 as Brent crude breached $100 and rising Treasury yields revived inflation fears. Data from CryptoSlate showed the flagship cryptocurrency trading around $78,451 at press time, with little sign of the pressure spreading across bond and energy markets after an escalation in the Middle East pushed Brent above the threshold for […]

Brent crude has surpassed $100 per barrel for the first time since July, while West Texas Intermediate topped $95 amid a military escalation in the Middle East. Military Conflict Escalates On Wednesday, oil prices surged, with Brent crude reaching two-month highs while bitcoin retreated to $79,000 following new reports of U.S. strikes on Iranian tankers […]

The surge in Brent crude oil prices could lead to increased inflationary pressures and influence global economic policies and energy strategies.

Iran said Wednesday it had attacked 10 ships near the Strait of Hormuz after the U.S. sank five Iranian oil tankers, with the attacks in and around the vital waterway sending the international Brent crude benchmark over $100 US a barrel for the first time since July.

Escalating U.S.-Iran tensions could lead to prolonged oil market volatility, impacting global supply dynamics and economic stability.