By Boluwatife Oshadiya | September 14, 2026
Key Points
- Brent crude rises to about $107 a barrel after a drone attack forces Saudi Arabia to shut its East-West pipeline
- The pipeline can transport up to about seven million barrels of crude daily, intensifying concerns over global supply
- Security risks around the Strait of Hormuz and wider Middle East infrastructure are adding further pressure to oil markets
Main Story
Oil prices rose sharply on Monday after a drone attack forced Saudi Arabia to shut its East-West oil pipeline, increasing concerns about global crude supplies amid heightened security risks across the Middle East.
Brent crude futures for November delivery traded at $107.16 a barrel, up 2.5% from the previous close of $104.61. U.S. West Texas Intermediate crude for October delivery rose 2.4% to $102.54 a barrel.
Saudi Arabia’s Foreign Ministry said repair work was underway on the East-West pipeline after it was targeted by several drones. The attack caused injuries and damage, while the Energy Ministry said the pipeline was shut as a precaution following the September 10 incident.
The pipeline is a major component of Saudi Arabia’s oil-export infrastructure, providing an alternative route for moving crude towards the Red Sea and bypassing the Strait of Hormuz. Its maximum capacity is around seven million barrels per day, making any prolonged disruption potentially significant for global supply.
Oil markets are also responding to continuing security risks around the Strait of Hormuz. The United Kingdom Maritime Trade Operations (UKMTO) reported that a vessel transiting the strait was struck by an unidentified munition, while another incident near Qeshm Island resulted in one death and three injuries.
The U.S. Energy Information Administration said global oil prices averaged $91 a barrel in August, up $7 from July, as global inventories continued to decline.
What’s Being Said
U.S. President Donald Trump said he had urged Ukrainian President Volodymyr Zelenskyy not to target diesel infrastructure in Russia, warning that such attacks were contributing to diesel shortages.
“Hit the targets, but not diesel, because it’s causing a diesel shortage.” — Donald Trump, U.S. President
What’s Next
Saudi Arabia’s repair and inspection work on the East-West pipeline will determine how long the supply route remains disrupted.
Oil traders will also monitor developments around the Strait of Hormuz and other Middle East shipping routes for signs of further supply disruptions.
Bottom Line
The Bottom Line: Oil’s move above $107 reflects a market increasingly sensitive to disruptions across multiple supply routes. For oil-dependent economies such as Nigeria, a prolonged period of elevated crude prices could strengthen export earnings while simultaneously increasing the cost of imported refined products and other energy-linked goods.
