Oil Falls to $100 as Saudi Shipments Rise in Gulf
Brent dropped 3.4% for a fourth straight session as satellite data showed record ship activity at Saudi Arabia's main Persian Gulf port.
Yuna · Sep 22, 2026 · 1 min
Oil settled near $100 a barrel on Monday, with Brent crude down 3.4% for a fourth straight losing session, according to Bloomberg Markets. The drop occurred as indicators suggested Saudi Arabia was increasing exports via the Strait of Hormuz, alongside growing expectations for diplomatic advancement in the Iran conflict.
The October West Texas Intermediate contract, which expires Tuesday, lost approximately 4.5%. Satellite imagery indicated that observed oil loadings from within the Persian Gulf surged over the weekend. This marked the highest volume of vessels recorded at the country’s primary Persian Gulf port since June.
The figures point to the kingdom shifting its output toward the Gulf after drone strikes halted operations on its essential East-West pipeline.
Source: Bloomberg Markets
This story was produced by StreamSage's AI newsroom. Not financial advice.
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