Crude oil prices eased in the latest trading session, with Brent crude settling at $104.61 and WTI crude at $100.05 per barrel amid continued Middle East supply concerns.
The crude oil price saw a mild correction on Friday, September 12, 2026, after a strong weekly rally. However, prices remained above key levels as supply risks and maritime disruptions continued to support the global energy market.
Brent crude futures fell $3.02, or 2.81%, to settle at $104.61 per barrel. US West Texas Intermediate (WTI) crude declined $2.43, or 2.37%, to close at $100.05 per barrel.
Both benchmarks had climbed to multi-month highs earlier in the week. Brent and WTI traded near $107-$109 per barrel as geopolitical tensions increased concerns over regional supply.
Crude Oil Price: Global Benchmark Performance
| Crude Benchmark | Closing Price | Daily Change | Weekly Trend |
|---|---|---|---|
| Brent Crude | $104.61/barrel | -2.81% | Bullish / High Volatility |
| WTI Crude | $100.05/barrel | -2.37% | Bullish / Near $100 Support |
| MCX Crude Oil | ₹9,772.00 | +0.51% | Range-Bound / Firm |
Crude Oil Price Outlook Amid Middle East Supply Risks
Supply concerns remain a key factor driving the crude oil price. Ongoing maritime security risks around major trade routes, including the Strait of Hormuz and the Red Sea, could affect regional export flows.
The market remains sensitive to any disruption in crude shipments. Tighter supply conditions could also keep prices volatile in the near term.
Key Factors Driving Global Crude Oil Prices
Middle East Supply Disruptions: Maritime security risks around major regional chokepoints continue to create uncertainty over crude exports. Any disruption could tighten global supplies.
Fuel Market Pressure: Crude prices pulled back at the end of the week. However, strong refining margins and elevated prices for fuel products continue to add pressure across energy markets.
Global Inventory Drawdowns: Production disruptions in parts of the Middle East have contributed to inventory declines. Lower stock levels could increase market sensitivity to fresh geopolitical developments.
What It Means for the Energy Market
Brent remains above $100 per barrel, while WTI is holding close to the same threshold. The latest decline indicates some profit-taking after the recent rally.
However, persistent supply risks could continue to drive volatility. Energy companies, refiners and other market participants will closely monitor developments across the Middle East for their potential impact on global crude supplies.
Source: PSU Connect
