Saudi Recovery Drives Brent Crude Down to Four-Month Low

Brent crude, the global oil benchmark, dropped sharply on Monday, September 21, 2026, falling $2.51 to $101.40 a barrel as Saudi Arabia's recovering crude exports alleviated concerns over prolonged supply disruptions in the Middle East.

West Texas Intermediate (WTI), the US benchmark, also declined sharply, dropping $2.44 or 2.43% to $97.86 a barrel, extending Brent's losses into a fourth consecutive session and taking it to its lowest level since around September 10.

The decline marks a further retreat from the rally earlier this month when concerns over Middle East supply disruptions pushed oil prices higher. On September 15, Brent was trading at $105.70 a barrel while WTI stood at $101.70.

Saudi Aramco has increased shipments through the Strait of Hormuz and is using ship-to-ship transfers off Oman's Sohar port to maintain exports. Provisional data indicate that Saudi crude exports have risen to more than 4 million barrels per day so far in September, compared with about 2.4 million barrels per day in August.