15.09.202623:26:37UTC+00Brent Hovers at 4-Month Highs

Brent crude remained above $108 per barrel on Wednesday, hovering near a four-month high as supply disruptions across the Middle East widened. Saudi Arabia reportedly cancelled several cargoes after drone attacks forced the shutdown of the East–West pipeline, informing European buyers that multiple September deliveries had been scrapped. There is still no clear timetable for restoring operations at this key link—which offers an export route that bypasses the Strait of Hormuz—as Iran-backed Houthi militants resumed attacks on Saudi targets this week. In Libya, the state oil company halted production at two oilfields and a pumping station amid ongoing protests. Beyond the Middle East, Russia struck petrol stations in Kyiv, while Ukraine hit a Russian oil refinery, despite US President Trump’s declaration that both countries had agreed to stop attacking each other’s energy infrastructure.