09/11/2026
OIL PULLS BACK After Historic Surge, but Supply Risks Keep WTI Near $100 - GO DEEPER Here: https://hubs.la/Q04xdkll0
-WTI crude is approximately US$99.20 per barrel, down $3.28, or 3.20%, from Thursday’s official US$102.48 settlement. The pullback follows Thursday’s 6%-plus surge and appears driven primarily by profit-taking and reports that Middle Eastern governments are exploring a temporary arrangement with Iran to improve shipping through the Strait of Hormuz.
- Brent crude is approximately US$103.88 per barrel, down $3.75, or 3.48%, from Thursday’s US$107.63 settlement. Despite Friday’s retreat, both benchmarks remain sharply higher for the week as Middle East supply disruptions continue to dominate the market.
- The broader market remains fundamentally tight. Hormuz vessel traffic is running well below normal, Houthi forces now control Yemen’s Mocha port near another critical shipping route, Saudi output has fallen sharply, and U.S. diesel prices have exceeded $6 per gallon for the first time.