Oil markets moved sharply higher on September 15 as disruptions to Saudi Arabia’s crude-export infrastructure raised fresh concerns about the availability of global supplies. Brent crude gained 2.9% to $108.75 a barrel, while US West Texas Intermediate rose 4.38% to $105.83, as traders assessed whether Saudi export disruptions could persist for weeks.

Yanbu Becomes Critical to Global Oil Flows

The latest pressure centers on Yanbu, Saudi Arabia’s major Red Sea export hub. Shipping industry sources told Reuters that crude loadings at the terminal had been suspended, while Riyadh informed some European customers that late-September cargoes would be canceled. The developments followed attacks that forced Saudi Arabia to shut its roughly 1,200-kilometer East-West Pipeline, which has become increasingly important because it allows crude to bypass the disrupted Strait of Hormuz.

The pipeline can transport approximately 4 million barrels per day, equivalent to around 4% of global oil supply. Reuters reported that Saudi export-ready inventories at Yanbu could last only several days without the pipeline restarting, although estimates for repairs range from a rapid restoration to several weeks. US Energy Secretary Chris Wright said he expected flows to resume within days, creating an important point of uncertainty for the market.

WTI Gains More Than Brent as Buyers Seek Alternatives

The stronger move in WTI relative to Brent reflects changing expectations among refiners and traders. With some Saudi crude deliveries to Europe canceled, European refiners could turn toward US supplies, increasing demand for readily available grades such as WTI. That dynamic has encouraged traders to position for continued disruption in Saudi exports while assessing the ability of alternative suppliers to compensate for lost barrels.

The wider supply picture is also becoming more complicated. Commodity vessel traffic through the Strait of Hormuz fell to just four vessels on Monday, from 10 the previous day, according to preliminary Kpler data. Before the conflict, the waterway handled roughly 125 large commercial vessels per day and carried about one-fifth of global crude oil and liquefied natural gas supplies.

Multiple Energy Disruptions Increase Market Sensitivity

Saudi Arabia is not the only source of supply uncertainty. In Libya, operations at three oil fields were suspended after members of the Petroleum Facilities Guard shut a valve on the Hamada-Zawiya export pipeline, with the country’s National Oil Corporation warning that it could declare force majeure if disruptions continue. Meanwhile, attacks on Russian and Ukrainian energy infrastructure have reduced refinery output and pushed US diesel futures and refining margins to record closes.

The cumulative effect is particularly important because global inventories are already under pressure. The International Energy Agency expects global oil supply to decline by 5.7 million barrels per day, or 6%, in 2026, while Saudi crude supply fell sharply in August following disruptions to production and shipping. The IEA has warned that shrinking inventories and a stretched refining system leave the market increasingly dependent on an improvement in geopolitical conditions.

Looking ahead, markets will focus on the restoration of Saudi pipeline flows, Yanbu loading activity and shipping through the Strait of Hormuz. A rapid pipeline repair could ease some of the immediate supply premium, while a prolonged outage would increase pressure on alternative crude suppliers and refined-product markets. Investors will also monitor developments in Libya, Russia, Ukraine and the Red Sea, as simultaneous disruptions could keep energy prices elevated and add another source of inflationary pressure for economies and central banks globally.