Key facts
- Oil prices fell as U.S. crude inventories rose by 7.1 million barrels in the week ended September 11.
- Brent crude futures declined 0.86% to $107.82 a barrel.
- U.S. West Texas Intermediate futures fell 0.92% to $104.86 a barrel.
- Houthi strikes threatened Saudi Arabia's East-West pipeline, which handles 3-4 million b/d of exports.
- Saudi Arabia's crude production in August fell to its lowest level since 1990.
Oil prices fell on Wednesday, September 11, 2026, as a significant build in U.S. crude inventories offset concerns over Middle Eastern supply disruptions. Brent crude futures were down 0.86% to $107.82 a barrel, while U.S. West Texas Intermediate futures declined 0.92% to $104.86 a barrel.
U.S. crude oil inventories increased by 7.1 million barrels in the week ended September 11, according to data. This rise in stockpiles weighed on prices, despite ongoing supply worries stemming from the Middle East.
Saudi Arabia's East-West pipeline, a critical artery for exporting 3-4 million barrels per day of crude, was reportedly targeted by Houthi militants, causing fires and smoke. This incident has heightened fears of further reductions in Middle Eastern supply. However, Saudi Arabia also offered additional crude cargoes via Oman, which helped to temper some of the supply disruption concerns.
In August, Saudi Arabia's crude production fell to 6.24 million b/d, its lowest level since 1990, partly due to renewed Houthi-driven disruptions that cut exports by roughly one-third.