Last Updated on September 14, 2026 by Deon
WTI crude oil prices continued their gains on Monday with West Texas Intermediate futures up almost 3% at just above $99.50 per barrel during European trading. The big rise shows growing worries about energy supply security after a major Saudi pipeline was closed because of an attack.
Oil markets are also responding to the delay of planned discussions between Iran and Gulf states about a way to move ships through the Strait of Hormuz. The mix of problems with infrastructure and uncertainty about one of the important oil shipping routes has made people worry more about possible supply issues.
Saudi Pipeline Shutdown Causes Supply Worries
A main reason for the rise in oil prices on Monday was a shutdown of a Saudi pipeline after a drone attack was reported. The Saudi Ministry of Energy said the pipeline was attacked and then shut down as a safety step.
This event has made people worry that more attacks could harm energy infrastructure in the area. Oil traders are especially worried about this because Saudi Arabia is one of the oil producers in the world and it is very important for global energy supply.
Any long period of problems with moving or making oil could make the physical oil market tighter. This risk has helped push WTI prices up as traders think about possible supply problems.
Hormuz Talks Delayed
Another sign for oil prices came after a scheduled meeting between Iran and Gulf states was pushed back.
This meeting was supposed to talk about a way to move ships through the Strait of Hormuz an important area for oil transportation. The delay has made people unsure if a temporary shipping route will be set up soon.
The Strait of Hormuz is very important for oil markets because any problems there can quickly affect supply expectations. If it is not completely closed more security worries can make transportation more expensive and make energy companies more careful.
Because of this traders have added risk from politics to oil prices.
Politics a Big Influence
The recent increase in prices shows how fast political events can change oil markets.
Energy prices were already high because of worries about security in the region. The Saudi pipeline event and the delay in Hormuz talks have made the uncertainty even worse.
Analysts at Deutsche Bank said these events have made people more worried about security in the region and the important shipping routes.
For oil traders the focus will stay on what happens with infrastructure, Iran, Gulf states and what happens around the Strait of Hormuz.
Any signs of attacks or problems could push prices higher. On the hand better talks or better security could reduce the political risk and cause prices to drop.
WTI Technical View Is Positive
The technical situation for WTI also shows the recent increase is strong. According to the analysis from FXStreet WTI was trading around $99.45 well above its 20-day exponential moving average at $89.92. The difference between the price and the moving average shows how strong the recent upward movement is.
The Relative Strength Index on the chart was about 69.63, close to the 70 level that is usually linked with being overbought.
An RSI near 70 does not mean prices have to fall. Instead it shows that the rise has become too much and that traders should be ready for changes or a short drop.
Long as WTI stays above its 20-day EMA, the overall short-term trend is still positive.
$100 Becomes a Big Mental Barrier
With WTI near $99.50 the $100 per barrel level is now a mental barrier.
If prices stay above $100 more people might want to buy. The positive outlook could get stronger. It would also show that political risk is high enough to push prices back into triple digits.
If prices can’t move past $100 people might take profits. Traders who joined the rise might decide to lock in their gains near this important level.
So the movement around $100 is likely to be watched in the coming days.
$89.92 Is Support
On the lower side the $89.92 level is important because it is the 20-day EMA.
A normal drop could let WTI move down without hurting the positive trend.. If the price stays below this moving average the trend could weaken and show that buying power is fading.
Until that happens buyers are still in a position.
Higher Oil Prices Might Influence Inflation
The big jump in oil prices also has economic effects.
Higher oil prices can increase the cost of moving and making products over the world. If energy prices stay high for a time inflation might get stuck.
This is important for banks because officials might be more careful about lowering interest rates when energy costs are going up.
For the Federal Reserve higher oil prices could make the inflation situation more complicated at a time when everyone is looking at US money policy. A new increase in energy costs could therefore affect expectations for interest rates and support the US dollar.
What Traders Should Look For
WTI traders will be watching what happens with Saudi energy infrastructure and the Strait of Hormuz. The $100 level is the mental point on the upside while the 20-day EMA near $89.92 is an important technical point on the downside.
A move above $100 could strengthen the view and show that worries about supply are becoming more part of the prices. At the time a big improvement in security or progress on a shipping deal could lower the risk and cause people to take profits.
WTI Oil Price Prediction
WTI crude is still supported as worries about energy supply problems continue to shape how the market feels. The shutdown of the pipeline and the delay in Hormuz meetings have made people more worried about security in the region pushing WTI toward the $100 mark.
Technically the outlook is still positive while prices stay above the 20-day EMA at $89.92. However the RSI near 70 shows that the rise is becoming too much.
For now $100 is the level to watch. A clear move above it could continue the rise while not being able to keep the gains might lead to a pause. With political risks still high oil markets are likely to stay very sensitive to any events, in the area.
