Oil Prices Fall for Third Day as Saudi Supply Concerns Ease Slightly — Commodities Roundup

MARKET MOVEMENTS:

--Brent crude oil is down 0.7% to $104.10 a barrel.

--European benchmark gas is up 4.3% to 79.61 euros a megawatt-hour.

--Copper futures are up 0.3% to $14,510 a metric ton.

--Gold futures are down 0.1% to $4,396.30 a troy ounce.

TOP STORY:

Oil Prices Fall for Third Day as Saudi Supply Concerns Ease Slightly

Oil prices fell for a third day Friday as expectations of restored Saudi pipeline flows eased immediate Middle East supply concerns.

Brent crude futures were down 1.5% at $103.30 a barrel, while West Texas Intermediate declined 0.5% to $101.36 a barrel, with both benchmarks paring some losses from earlier in the European day, when WTI dipped below the $100-a-barrel level. The pullback comes after Brent and WTI settled at four-month highs earlier this week at $108.75 and $105.83 a barrel, respectively.

MARKET TALKS:

U.S. Natural Gas Futures on Track for Weekly Gains -- Market Talk

1006 ET - U.S. natural gas futures are higher and looking to end the week with gains as extended summer weather keeps up cooling demand in the southern half of the country. National demand is expected to remain high the next couple of days, then moderate before dropping off toward the end of next week, according to NatGasWeather.com. "The overnight data was little changed, thereby maintaining bearish weather patterns for the 3-20 day forecast period," the forecaster adds. Nymex gas is up 0.8% at $2.924/mmBtu. (anthony.harrup@wsj.com)

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Oil Futures Struggle to Maintain Decline -- Market Talk

1000 ET - Oil futures are mixed with WTI rising and Brent slightly lower in early U.S. trading. The selloff the previous two sessions has slowed on news that Saudi Arabia notified European customers they won't be receiving any crude next month due to the damaged East-West pipeline, and an attack on a tanker in the Strait of Hormuz, Dennis Kissler of BOK Financial says in a note. Near-term supplies remain tight, and the over $5.00/barrel spread between Oct/Nov WTI is keeping traders on the buying side, he adds. WTI for October delivery is up 1.3% at $103.20 a barrel ahead of Tuesday's expiration, and the most-active November contract gains 0.6% to $97.84. November Brent is off 0.1% at $104.64. (anthony.harrup@wsj.com)

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Grains Slide as U.S.-China Meetings Approach -- Market Talk

0930 ET - Meetings between U.S. and Chinese officials, reaching a crescendo next week with a meeting between President Trump and Chinese president Xi on Thursday, are grabbing the focus of grain traders heading into the weekend. "Expect volatility to ramp up significantly next week with the China/U.S. talks," says the Hightower Report in a note, adding that "headline risk [is] extremely high." Treasury secretary Scott Bessent is meeting his Chinese counterpart He Lifeng over the weekend, which may set the tone for trading early next week. CBOT corn is down 0.3%, soybeans slide 0.8%, and wheat is off 0.5%. (kirk.maltais@wsj.com)

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Oil Prices Could Remain in Triple Digits Well Into 2027 -- Market Talk

1222 GMT - Oil prices could remain above $100 a barrel well into next year if the Middle East conflict drags on for longer and flows don't recover by the end of 2026, according to Capital Economics. "Houthi advances in Yemen and a lack of progress on the diplomatic front raises the risk of a more severe and longer conflict than our working assumption," says senior economist Hamad Hussain. In afternoon European trading, Brent crude is down 1% to $103.78 a barrel, while WTI falls 0.1% to $101.83 a barrel. (giulia.petroni@wsj.com)

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Harbour Energy to Get Cash Boost From European Gas Exposure -- Market Talk

0941 GMT - Harbour Energy's exposure to European gas prices will turbocharge free cash flow generation, BofA analyst Cian Evans-Cowie writes as he upgrades the stock to buy from neutral with a new target price of 350 pence, from 280 pence. Shares have lagged peers despite having the highest free cash flow sensitivity to European gas prices, he says. Harbour's free cash flow for 2026 could be around $2.65 billion, which implies a more than 45% upside to the company's guidance, he says. This cash can be used to pay down net debt, which is seen falling more than 30% by end of 2026, he adds. This will then free up more cash to return to shareholders, he says. Shares rise 2% to 277.00 pence. (adam.whittaker@wsj.com)

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Oil Extends Losses on Saudi Supply Hopes -- Market Talk

0713 GMT - Oil prices extend losses from the previous session, with Brent crude now at around $102 a barrel amid efforts to restore Saudi export capacity. "Supply concerns have eased as Saudi Arabia works to restore its damaged East-West pipeline," says Soojin Kim, analyst at MUFG. "The recent decline in spot oil prices largely reflects a perception of moderating geopolitical risks, but continued threats to both Hormuz and Red Sea routes should keep Brent above pre-war levels and volatility elevated." In early European trading, Brent falls 2.2% to $102.54 a barrel and is on track for a weekly loss of nearly 2%, while WTI futures are down 1.9% to $99.97 a barrel. Attention now shifts to the United Nations General Assembly in New York next week, as the U.S. has reportedly agreed to let Iran's leaders participate. (giulia.petroni@wsj.com)

Write to Barcelona Editors at barcelonaeditors@dowjones.com

(END) Dow Jones Newswires

September 18, 2026 11:15 ET (15:15 GMT)