Half capacity in days is still a report. The Red Sea door is still shut
Reuters reported Friday that oil prices fell as easing worries over Saudi supply outweighed fresh strikes between Saudi Arabia and Yemen's Houthis. At 1225 GMT, Brent was down 88 cents, or 0.84 percent, at $103.94 a barrel. WTI was little changed at $102.15. Brent is on track for its first weekly loss in three, down 0.8 percent. Prices stayed above $100.
Reports this week said Saudi Arabia was seeking to restore about half the capacity of the East-West pipeline within days. Sources that spoke to Reuters have given varying estimates of how long a full restart will take. Yanbu loadings remain suspended after last week's attacks on the line. Saudi Arabia has not posted a restart.
Tamas Varga at PVM Oil Associates told Reuters that extra crude via Oman, product-stock builds in the U.S., Singapore, and Europe, and higher Chinese fuel exports eased the tightness talk. Chinese customs data Friday showed August refined-product exports up 12.7 percent year on year, with jet fuel at a record. Four commodity vessels passed Hormuz on Thursday, below a 10-day average of about 16, preliminary shipping data showed.
No Canadian listed issuer posted a release on the tape. The oilsands book still feels this first: Canadian Natural (TSX: CNQ), Suncor (TSX: SU), Imperial (TSX: IMO), and Cenovus (TSX: CVE). This is tape. It does not change a 2026 production guide. It is not a Line 5 note.