DBT Bureau
Pune, 16 Sep 2026
Crude oil prices continued to move higher as renewed attacks on Saudi Arabia’s energy infrastructure disrupted the kingdom’s East-West pipeline, raising concerns over tighter global supply and a prolonged repair timeline. NYMEX crude traded around USD104 a barrel, while ICE Brent hovered above USD108 a barrel. The seizure of Yemen’s Mocha port by Iran-aligned Houthi forces has also increased risks to Red Sea shipping, adding to concerns over energy transportation and supply security.
- Precious metals edged lower as surging crude oil prices heightened inflation concerns, strengthening expectations of a Federal Reserve interest rate hike and driving Treasury yields higher ahead of this week’s policy meeting.
- Spot gold hovered around USD4260 per troy ounce, while spot silver traded below USD63 per troy ounce, with investors adopting a cautious stance ahead of the U.S. central bank’s interest rate decisions this week.
- U.S. inflation held steady at 3.4% in August, remaining significantly above the Fed’s long-term target of 2%.
- The renewed escalation in the Middle East raised inflation concerns and reinforced expectations that U.S. interest rates could remain higher for longer.
- Houthi forces launched renewed missile and drone strikes against Saudi Arabia, leaving Saudi Arabia’s East-West pipeline offline, disrupting up to 4% of global oil supply.
- Crude oil prices continued to rise today after attacks on Saudi Arabia’s energy infrastructure disrupted the kingdom’s East-West pipeline, fueling concerns that repairs to critical energy facilities and transport routes may take longer than anticipated.
- Meanwhile, Yemen’s Iran-aligned Houthi forces seized control of the port of Mocha, increasing threats to Red Sea shipping traffic.
- NYMEX Crude traded around USD104 a barrel while ICE Brent hovered above USD108 a barrel.
- China’s aluminium production rose by 4.7 % to 3.98 million metric tonnes in August from a year earlier. In the first eight months of the year, China produced 31.12 million metric tonnes, a rise of 3.9 % from the same period last year.
- U.S. natural gas futures rose as lower daily production and higher liquefied natural gas exports tightened supply expectations. Weather forecasts indicate temperatures will remain predominantly above normal through September 29, leading power generators to consume more natural gas to meet increased air-conditioning demand.
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Source: Geojit Investments Limited,
