WTI Oil Prices Recover Amid Ongoing Tensions with Iran

West Texas Intermediate crude oil prices have recovered some of their losses from Tuesday, rising by around 5.5% in September.

The price of WTI traded above $90 on Wednesday, a significant increase following the previous day's decline to its lowest level since early September.

The improvement in oil prices comes as Saudi Arabia has resumed tanker loadings at Yanbu after restarting its East-West pipeline, providing an alternative route around the Strait of Hormuz.

Goldman Sachs estimated that Gulf crude exports have recovered to around 23.3 million barrels per day last week, matching their 2025 average.

The US also announced that it would offer up to 40 million barrels from its Strategic Petroleum Reserve.