Oil Hits Speed Bump With Supply-Driven Rally Looking Overdone - Bloomberg.com
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Oil prices retreated as traders reassess supply damage in the Middle East and question whether recent gains have been overdone. Brent crude slipped below $108 a barrel after a 4% rally over the previous two sessions.
Latest Oil Market News and Analysis for Sept. 16 - Bloomberg
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Oil Hits Speed Bump as Traders Weigh Supply-Driven Rally
*Francisco Blanch, commodities and derivatives research head at BofA Securities, says Brent could climb as high as $150 a barrel if critical infrastructure, like Saudi Arabia’s East-West pipeline, “is hit on a more permanent basis.” Blanch speaks on Bloomberg TV.
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By Charles Gorrivan and Kanoko Matsuyama
September 15, 2026 at 5:03 PM CDT
Updated on
September 16, 2026 at 6:57 AM CDT
Oil retreated as traders assessed the extent of supply damages in the Middle East and whether a recent rally may have been overdone.
Brent slipped under $108 a barrel, after rising 4% over the previous two sessions. The recent gains, following a shutdown of Saudi Arabia’s East-West pipeline due to Houthi strikes and a supply halt in Libya, lifted Brent’s 14-day relative strength index above 70, a level that can suggest futures were overbought.
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Oil Hits Speed Bump as Traders Weigh Supply-Driven Rally
*Francisco Blanch, commodities and derivatives research head at BofA Securities, says Brent could climb as high as $150 a barrel if critical infrastructure, like Saudi Arabia’s East-West pipeline, “is hit on a more permanent basis.” Blanch speaks on Bloomberg TV.
Source: Bloomberg*
Contact us: Provide news feedback or report an error
Confidential tip? Send a tip to our reporters
Site feedback: Take our Survey
By Charles Gorrivan and Kanoko Matsuyama
September 15, 2026 at 5:03 PM CDT
Updated on
September 16, 2026 at 6:57 AM CDT
Oil retreated as traders assessed the extent of supply damages in the Middle East and whether a recent rally may have been overdone.
Brent slipped under $108 a barrel, after rising 4% over the previous two sessions. The recent gains, following a shutdown of Saudi Arabia’s East-West pipeline due to Houthi strikes and a supply halt in Libya, lifted Brent’s 14-day relative strength index above 70, a level that can suggest futures were overbought.
Before it's here, it's on the Bloomberg Terminal
HomeBTV+Market DataOpinionAudioOriginalsMagazineEvents
News
MarketsEconomicsTechnologyPoliticsGreenCryptoAI
Work & Life
WealthPursuitsBusinessweekCityLabSportsEqualityManagement & Work
Market Data
StocksCommoditiesRates & BondsCurrenciesFuturesSectorsEconomic Calendar
Explore
NewslettersExplainersPointed News QuizAlphadots GameThe Big TakeGraphicsSubmit a TipAbout Us
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Help©2026 Bloomberg L.P. All Rights Reserved.
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Source: Bloomberg
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