Oil prices fall, Brent at $103 per barrel, WTI at $100

Oil prices experienced a decline on Friday, September 18, 2026, with Brent crude settling at $103.7 a barrel and WTI at $100.9, according to Tokyo morning trading. The drop came as Middle East supply concerns lessened, with Saudi Arabia offering extra crude shipments to Asian refiners via ship-to-ship transfers outside the Gulf.

The move aimed to ease supply anxieties, despite ongoing tensions from the US-Iran conflict. Saudi pipeline repairs were reported to be underway, with US Energy Secretary Chris Wright stating the disruption would likely last "days" rather than longer. However, Iran's Strait of Hormuz remained a concern, with commercial traffic still disrupted and alternative shipping methods being utilized to keep Gulf crude moving.

Ship-to-ship transfers, while not entirely avoiding Hormuz, helped reduce logistical risks for Gulf producers delivering crude to Asian customers. Despite the easing oil prices, they remained above $100 due to persisting Hormuz risks.