U.S. crude oil inventories unexpectedly rise, suppressing oil prices as concerns over Saudi supply are temporarily overshadowed

智通财经2026/09/16 02:36

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On Wednesday, international oil prices edged lower due to an unexpected increase in US crude oil inventories, while investors assessed supply risks caused by the suspension of shipments at Saudi Arabia's Yanbu port. Brent crude oil futures fell 0.35% to $108.10 per barrel; WTI crude oil futures dropped 1% to $104.80 per barrel.
In the previous trading session, both major oil benchmarks closed more than $3 higher, reaching their highest levels since May 19, mainly driven by concerns over supply triggered by the suspension of shipments at Yanbu port and Saudi Arabia's reduction of crude oil exports to Europe.
Data from the American Petroleum Institute showed that for the week ending September 11, US inventories of crude oil, gasoline, and distillates all increased, with crude oil inventories rising by 7.1 million barrels. In contrast, a survey revealed that analysts had previously expected a decrease of roughly 1.6 million barrels. According to a report by Haitong Futures, the unexpected increase in gasoline and diesel inventories put pressure on oil prices, but regional inventory builds have not changed the overall tight fundamentals of the global crude oil market.
Oil trading and shipping sources said on Tuesday that Saudi Aramco has notified European customers that part of the crude oil cargoes scheduled for shipment in September will be canceled, and crude oil loading operations at the Red Sea’s Yanbu port have also been suspended. The US Energy Secretary stated that crude oil deliveries through Saudi's east-west pipeline are expected to resume within a few days. However, sources interviewed gave different estimates on the pipeline’s downtime — one suggested repairs may take five to six weeks, whereas another said partial oil flow could be restored earlier as repairs progress.

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U.S. crude oil inventories unexpectedly rise, suppressing oil prices as concerns over Saudi supply are temporarily overshadowed

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