Crude Oil Prices Hold Near Multi-Month Highs Amid Middle East Supply Disruptions

Global crude oil prices declined slightly on Friday, September 12, 2026, following a strong weekly rally. Brent Crude futures dropped $3.02 to settle at $104.61 per barrel, while WTI Crude fell $2.43 to close at $100.05 per barrel.

The downward correction was minor and prices remain supported above key psychological thresholds due to persistent supply concerns and maritime transit constraints in the Middle East. The Strait of Hormuz and Red Sea continue to be critical chokepoints, threatening regional export flows and keeping inventory levels tight.

Analysts note that sustained production shut-ins across parts of the Middle East have accelerated inventory draws globally, leaving markets sensitive to any new geopolitical headlines. Tight processing margins have pushed derivative products like US diesel to historic highs, fueling broader energy inflation fears.