Brent crude has slipped below $108 a barrel, pulling back from a four-month high after a surprise increase in US crude inventories added fresh pressure to the market.
Brent fell to $107.66 per barrel on Wednesday, September 16, 2026, down 1.00% from the previous session, according to market data.
The decline came after the American Petroleum Institute (API) reported that US crude inventories increased by 7.14 million barrels last week, reversing a 300,000-barrel drawdown recorded in the previous week.
The build was unexpected, with the market having looked for another decline in US crude stocks.
The inventory increase has raised concerns about supply levels in the world’s largest oil-consuming economy and weighed on prices after Brent had climbed to its highest level in about four months.
Still, the decline is being cushioned by continued disruptions to oil supplies in the Middle East.
Oil loadings at Saudi Arabia’s Yanbu port remain suspended following the shutdown of the country’s East-West Pipeline, a key route for moving crude to the Red Sea without passing through the Strait of Hormuz.
Saudi Arabia has been working to redirect some crude through alternative routes, including shipments via Oman, as it manages the impact of the disruption.
Meanwhile, oil production in Libya is facing fresh interruptions after protests led to the suspension of operations at two oilfields and a pumping station.
Libya’s overall production, however, has remained broadly stable at around 1.4 million barrels per day, limiting the immediate impact of the disruptions on global supply.
The latest pullback therefore comes as the market weighs a sharp increase in US inventories against ongoing supply risks in major producing regions.
Despite Wednesday’s decline, Brent remains significantly higher than a month and a year ago, with the benchmark up 18.48% over the past month and 58.44% year-on-year.
