Oil Prices Soar Past $107 as Saudi Pipeline Attack Deepens Gulf Crisis

Global crude oil prices surged past $107 per barrel on Monday, September 14, 2026, due to escalating hostilities in the Persian Gulf. The price spike followed a series of events, including the emergency shutdown of Saudi Arabia's primary overland export pipeline after drone strikes and a fatal assault on commercial shipping in the Strait of Hormuz.

The suspension of operations along Saudi Arabia's East-West Pipeline, known as Petroline, has removed a key diversion route for Gulf exporters while the Strait of Hormuz remains contested. The pipeline, which has a nameplate capacity of 7 million barrels per day, connects state oil facilities in the Eastern Province to the Red Sea port terminal of Yanbu.

Energy analysts warned that the simultaneous disruption of marine transit and overland bypass routes has triggered the most acute physical supply vulnerability since the regional conflict began. Brent crude for November settlement climbed 2.8 percent to $107.54 per barrel, while U.S. West Texas Intermediate for October delivery rose 2.3 percent to $102.34 per barrel.