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U.S. oil slides below $100 as Saudi Arabia offers more crude through Hormuz

9/17/2026

oil fell below $100 a barrel after Saudi Arabia reportedly made additional crude available through the Strait of Hormuz.

Hormuz is the narrow waterway connecting the Persian Gulf to the open ocean, the main maritime exit for oil from the Gulf region.

The offer came after an attack on a pipeline raised concerns about disruptions to Saudi Arabia's crude exports. Here is what that means in plain terms.

A pipeline attack creates a specific worry: if the pipe carrying crude from production fields to loading terminals is damaged, less oil reaches tankers, and tight supply pushes prices up.