WTI Crude Tumbles Amid Escalating Middle East Supply Risks

WTI Crude Pulls Back Despite Heightened Supply Threats

The price of WTI crude oil has retreated from a two-day advance, trading around $100.50 per barrel during Asian hours on Wednesday.

The market is monitoring a growing list of supply disruptions that could underpin prices going forward.

Saudi Arabia has canceled several September crude shipments to Europe after drone strikes forced the shutdown of its East-West pipeline.

There is currently no clear operational timeline for bringing this strategic route back online, which bypasses the Strait of Hormuz.