Middle East supply risks continue to stack up; oil prices take a breather at high levels after surging over 8% in one week

智通财经2026/09/11 12:06

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Crude oil is still expected to record a single-week gain of more than 8%. The threat of attacks in the Middle East is endangering key supply routes. Although Brent retreated to around $104 per barrel on Friday, West Texas Intermediate crude fell back below $100.
Reports indicate that Saudi crude oil supply has dropped to about 6 million barrels per day, the lowest in 30 years. Disruptions in the Strait of Hormuz, the Red Sea, and Russia continue to tighten the fuel market.
For the first time, US diesel prices have surpassed $6 per gallon, highlighting particularly severe refined oil shortages and further reinforcing the view that inflationary pressures will not ease quickly.
The high volatility of oil prices means that energy costs continue to transmit into global borrowing costs and central bank policy. Market sentiment is unlikely to truly relax in the short term, and the focus going forward will be on whether there is any substantial easing of supply routes.

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Middle East supply risks continue to stack up; oil prices take a breather at high levels after surging over 8% in one week

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