Oil prices fall towards $102 amid Saudi supply recovery, US-Iran uncertainty

September 21, 2026 (MLN): Oil prices declined on Monday as traders monitored the pace of Saudi Arabia’s oil shipment recovery following missile and drone attacks by Iran-backed Houthis on Saturday, according to CNBC.

Currently, Brent crude futures is down, 1.91%, at $101.89 per barrel, according to data by Mettis Global.

West Texas Intermediate (WTI) crude futures is down by $1.78, or 1.85%, to $94.30 per barrel by [10:15 am] PST

Despite the disruption to Saudi Arabia’s East-West pipeline, oil flows from the Middle East have remained relatively resilient, according to JPMorgan analysts in a September 18 note.

Total regional oil flows averaged 17.1 million barrels per day over the past 10 days, down 6.1 million bpd from the 2025 average.

Market concerns over potential supply disruptions, however, remain elevated amid uncertainty surrounding the U.S.-Iran conflict. U.S. President Donald Trump said he was in a “deciding mode” and that “very big things” would happen in the near future regarding the conflict in an interview with Fox News.

Trump also warned, “My question is, if and when do I blow the entire nation up? They better behave.”

Oil prices are expected to remain sensitive to the pace of export recovery and developments on the diplomatic front.

Any renewed deterioration in shipping conditions or setback in the normalization of exports could tighten physical supply and put renewed upward pressure on prices.

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