{"id":895,"date":"2026-09-17T07:03:16","date_gmt":"2026-09-16T23:03:16","guid":{"rendered":"https:\/\/btbitcoin.net\/index.php\/2026\/09\/17\/oil-extends-slump-as-saudi-arabia-moves-to-restore-key-pipeline\/"},"modified":"2026-09-17T07:03:16","modified_gmt":"2026-09-16T23:03:16","slug":"oil-extends-slump-as-saudi-arabia-moves-to-restore-key-pipeline","status":"publish","type":"post","link":"https:\/\/btbitcoin.net\/index.php\/2026\/09\/17\/oil-extends-slump-as-saudi-arabia-moves-to-restore-key-pipeline\/","title":{"rendered":"Oil Extends Slump as Saudi Arabia Moves to Restore Key Pipeline"},"content":{"rendered":"<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\"><!-- HTML_TAG_START -->(Bloomberg) &#8212; Oil extended the biggest drop in more than six weeks on signs of easing Middle East supply disruptions, with a key pipeline being restored.<!-- HTML_TAG_END -->  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\"><!-- HTML_TAG_START -->Most Read from Bloomberg<!-- HTML_TAG_END -->  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\"><!-- HTML_TAG_START -->West Texas Intermediate fell toward $102 a barrel, after losing 3.2% on Wednesday, the most since Aug. 4, while Brent closed below $106. Saudi Arabia is seeking to return about half the capacity of its damaged East-West pipeline within days, and full operations in about six weeks, a person familiar said.<!-- HTML_TAG_END -->  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\"><!-- HTML_TAG_START -->US Energy Secretary Chris Wright told Fox Business that 18 million barrels of crude and products went through the Strait of Hormuz earlier this week. The seven-day average of flows through the waterway \u2014 which links the Persian Gulf to global markets \u2014 was 11 million barrels a day, he said.<!-- HTML_TAG_END -->  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\"><!-- HTML_TAG_START -->Crude has rallied by about three-quarters this year, as the US-Iran war curbed Middle East supplies and the Russia-Ukraine conflict drags on. Surging crude and fuel costs have fanned global inflationary pressures, prompting the Federal Reserve to raise interest rates on Wednesday and signal further tightening.<!-- HTML_TAG_END -->  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\"><!-- HTML_TAG_START -->The East-West pipeline \u2014 which carries oil across Saudi Arabia to its Red Sea coast \u2014 was damaged in attacks last week. The conduit has emerged as a critical workaround to shipments through Hormuz, which remains contested by Washington and Tehran.<!-- HTML_TAG_END -->  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\"><!-- HTML_TAG_START -->Most Read from Bloomberg Businessweek<!-- HTML_TAG_END -->  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\"><!-- HTML_TAG_START -->\u00a92026 Bloomberg L.P.<!-- HTML_TAG_END -->  <\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Bloomberg) &#8212; Oil extended the biggest drop in mo [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-895","post","type-post","status-publish","format-standard","hentry","category-3"],"_links":{"self":[{"href":"https:\/\/btbitcoin.net\/index.php\/wp-json\/wp\/v2\/posts\/895","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/btbitcoin.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/btbitcoin.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/btbitcoin.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/btbitcoin.net\/index.php\/wp-json\/wp\/v2\/comments?post=895"}],"version-history":[{"count":0,"href":"https:\/\/btbitcoin.net\/index.php\/wp-json\/wp\/v2\/posts\/895\/revisions"}],"wp:attachment":[{"href":"https:\/\/btbitcoin.net\/index.php\/wp-json\/wp\/v2\/media?parent=895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/btbitcoin.net\/index.php\/wp-json\/wp\/v2\/categories?post=895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/btbitcoin.net\/index.php\/wp-json\/wp\/v2\/tags?post=895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}