Crude Cedes the Hormuz Spike as Pipeline Clock Ticks Down
Crude is handing back part of its Hormuz spike this morning. WTI sits at $104.81, down 0.96% on the day, and Brent is at $108.20, off 0.51%, both easing from the four-month highs struck on the Saudi supply scare, a reversal of the run-up we covered in Oil Breaks $102 on Saudi Strikes and Hormuz Risk .
Key Takeaways WTI fell to $104.81, down 0.96% on the day, and Brent slipped to $108.20, off 0.51%. Saudi Arabia's East-West pipeline, roughly 4% of global supply, stays shut after the September 10 Houthi strikes, with Yanbu storage covering only five to seven days. Energy Secretary Chris Wright promises the line returns within days, while satellite imagery points to months of repair. The move is…
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