Oil rises 20% in September after the Saudi pipeline is shut
Oil rises 20% in September after the Saudi pipeline is shut
Oil is much more expensive this month. A barrel of Brent, the international reference for crude oil, is up about 20% so far in September and sits near US$108.
First, three key words. A barrel is the unit used to sell oil: almost 159 litres. A strait is a narrow sea passage between two pieces of land. And a pipeline is a very long tube that carries oil over land, from one place to another.
What happened at sea
Houthi rebels from Yemen, allies of Iran, took control of the Bab el-Mandeb strait last week. Before that they had taken the port of Mokha and Perim island. In the last few days they took the Hanish islands. With that they threaten the passage of Saudi ships to the markets of Asia.
What happened on land
Saudi Arabia shut its pipeline that crosses the desert to the port of Yanbu, on the Red Sea, "as a precaution", after that infrastructure was attacked with drones the day before. That tube was the big escape valve for Saudi oil.
The result is that world supply is squeezed at two critical points at the same time. The closure of the Strait of Hormuz, blocked by the war between the United States and Iran, was joined by Houthi control of Bab el-Mandeb.
The numbers
| Item | Value |
|---|---|
| Price of a barrel of Brent | Near US$108 |
| Rise in September | Around 20% |
| Possible fall in world supply (IEA) | 5.7 million barrels per day |
| Saudi spot sale (Bloomberg) | Up to 20 million barrels |
The International Energy Agency (IEA) estimates that world supply could fall by 5.7 million barrels per day, and that recovery in the Gulf could take until 2027. Saudi Arabia, according to Bloomberg, sold up to 20 million barrels on the spot market, to be picked up just outside the Strait of Hormuz.
What comes next
The United States Energy Secretary said the Saudi pipeline could work again in a few days. Today the price is easing a little in the session, after the strong rise during the month.
For ordinary people, expensive oil is felt in petrol, in the transport of goods and in the final price of food.
Fuentes: Expansion (Espana), Financial Times y OilPrice (Estados Unidos). 16 de septiembre de 2026.
