Oil Prices Plunge on Unexpected Inventory Build

Oil prices fell on Wednesday as an unexpected build in U.S. crude inventories weighed on markets, despite concerns about supply disruptions following a Saudi pipeline attack.

The U.S. Energy Information Administration reported that crude oil inventories rose by 7.1 million barrels in the week ended September 11, surpassing analysts' expectations for a draw of about 1.6 million barrels.

The increase in inventories comes as Saudi Arabia suspended oil loadings at its Yanbu port after shutting its East-West pipeline following an attack on Friday.

The suspension has raised concerns about supply disruptions, with the U.S. Energy Secretary stating that crude should resume flowing through the pipeline within days.