Oil Prices Fall as US Stockpiles Surge, Saudi Disruptions Persist

U.S. crude inventories jumped 7.1 million barrels in the week ended September 11, 2026, against expectations of a 1.6 million-barrel draw. Oil prices fell Wednesday, September 16, ending a two-day rally. Brent crude dropped 73 cents, or 0.67%, to $108.02 a barrel by 0450 GMT. WTI fell $1.10, or 1.04%, to $104.73. Both had settled more than $3 higher Tuesday at levels last seen May 19. Gasoline and distillate stocks also rose, per API data cited by market sources. Saudi Arabia suspended loadings at Yanbu port after shutting its East-West pipeline following a Friday attack by Yemen's Iran-aligned Houthis. The line moves crude from eastern fields to the Red Sea coast. The kingdom offered Asian refiners extra crude via ship-to-ship transfers off Oman's Sohar port. European diesel futures hit a record high Tuesday. Strait of Hormuz vessel transits fell to four Tuesday, from seven the day before and under the 10-day average of 18. Priyanka Sachdeva, head of market insights at Phillip Nova, said: "Despite the inventory pressure, prices remained resilient as traders focused on disruptions to physical supplies." She said: "The bigger concern remains the disruption to Saudi Arabia's East-West pipeline and Yanbu export infrastructure, following attacks on Saudi energy facilities." What is contested: none; sources align on the inventory, price, and disruption facts.