2026.09.2923:32:24UTC+00Oil Holds Losses as Supply Concerns Ease

Crude oil prices held below $90 per barrel on Wednesday, extending the sharp losses from the previous session, as improving supply signals from the Middle East and another large US release of emergency reserves eased market concerns over tightness. Analysts reported that the 10-day average of crude exports from the Middle East has rebounded to 17.5 million barrels per day, or about 98% of pre-war levels. This recovery follows Saudi Arabia’s resumption of crude shipments through its East–West pipeline at roughly half of its capacity, alongside a continued flow of oil through the Strait of Hormuz via covert shipping routes. In the United States, the government plans to release up to 40 million barrels from the Strategic Petroleum Reserve (SPR) to help counter surging fuel prices. Industry figures also showed that US crude inventories rose by 1 million barrels last week. Nevertheless, the US oil benchmark remains on course for a third consecutive monthly gain, supported by the protracted US–Iran conflict and widespread disruptions to global supplies.