New York.- The West Texas Intermediate (WTI) crude oil closed this Tuesday with a 4.4% increase, reaching $105.83 per barrel, its highest closing price since May.
At the end of the session, WTI futures contracts for the month of October, the benchmark in the United States, added 4.44 dollars compared to the previous close.
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The rise in crude oil was driven by reports stating that Saudi Arabia has canceled oil deliveries to European customers scheduled for September due to the closure of a major pipeline that suffered several drone attacks originating from Iraq.
The East-West pipeline, located in the Riyadh and Medina regions, was the target of “multiple attacks on the morning of Thursday, September 10, 2026,” and was therefore “shut down as a precautionary measure,” the Saudi Ministry of Energy reported last Friday.
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This oil facility, located in the Riyadh and Medina regions, transports approximately seven million barrels of crude per day and is the main supply route to global markets in the current context of tensions in the Strait of Hormuz.
Goldman Sachs analysts noted in a memo today that the attacks on oil infrastructure “represent a significant escalation of the conflict and increase the probability of a bullish price scenario.”
Added to this, the Houthi Shiite rebels in Yemen claimed this Monday to have attacked “with dozens of missiles and drones” an air base located in the south of Saudi Arabia, with “precise and direct impact,” amidst the offensive with which the Yemeni insurgents have taken control of the entire western coast of the country in the south of the Arabian Peninsula.
Houthi military spokesman, Yahya Sarea, stated in a communique that the attack targeted the King Khalid air base, in the Khamis Mushait province, in the south of that Arab kingdom, considered the main support for the internationally recognized Yemeni government forces, which have been retreating in recent weeks in the face of the rapid offensive by the Iran-backed group on the western coast of Yemen.
