Oil Falls to a One Week Low as It Breaks Below the 100 Dollar Level

Oil prices fell in global trading on Monday, September 21, 2026 (30 Shahrivar 1405), hitting their lowest level in more than a week. According to ISNA, carried by Donya e Eqtesad, Brent crude futures fell $2.16, or 2.08 percent, to $101.71 a barrel, while US West Texas Intermediate fell $2.15, or 2.14 percent, to $98.15 a barrel. Both benchmarks had also fallen on Friday, by 0.91 and 1.58 percent respectively. A Singapore based broker attributed the drop to WTI breaking below the psychological $100 level and to traders rolling positions into the November contract ahead of the October contract's expiry.

Citing preliminary data from tracking firm Kepler via Reuters, the report said Saudi Arabia's crude exports through the Strait of Hormuz rose to more than 4 million barrels a day in September, after a strike on Saudi Aramco's East West pipeline had halted some shipments from the port of Yanbu. Exports had fallen to 2.4 million barrels a day in August, their lowest level since at least 2013. JPMorgan analysts said in a note dated September 18 that average oil flows over the prior 10 days were 17.1 million barrels a day, 6.1 million barrels below the 2025 average. Sahmino's own data showed Brent crude down 2.27 percent to $101.56 a barrel as of 11:30 am Monday.