Oil falls as U.S. crude inventories reportedly rise, traders weigh Saudi pipeline closure

Numerous merchant ships belonging to Iran and other countries remain at anchor in the Strait of Hormuz in Bandar Abbas, Iran, on Sept. 8, 2026. Fatemeh Bahrami | Anadolu | Getty ImagesOil retreated Wednesday after a report said U.S. energy inventories rose last week, with investors assessing the latest developments in Middle East conflict and associated supply risks.Futures for international benchmark Brent crude for November delivery dropped 1.02% to $107.64 a barrel. U.S. West Texas Intermediate futures for October declined 1.29% to $104.46 per barrel.Stock Chart IconStock chart icon Brent U.S. crude oil, gasoline and distillate inventories all rose last week, Reuters reported, citing sources for data from the American Petroleum Institute. Crude inventories rose by 7.1 million barrels in the week ended Sept. 11, compared with analysts' expectations for a draw of about 1.6 million barrels, Reuters reported. Meanwhile, traders remain glued to developments in the Middle East, amid concerns over supply disruptions following an attack by Iran on Saudi Arabia's crucial East-West pipeline that led to it's closure over the weekend. U.S. Energy Secretary Chris Wright told CNBC in an inter...