12 September 2026 · 3 dk okuma

FXPARTNER Market Summary | 12.09.2026 Afternoon Update

Saturday's global market agenda was dominated by **Saudi Arabia**'s shutdown of the **East-West Crude Oil Pipeline** following a drone attack originating from **Iraq**, the **International Energy Agency (IEA)**'s renewed cut to its global oil supply forecast, and fresh remarks from **US President Donald Trump** on the course of the Iran war. On the morning of **Thursday, September 10**, drone strikes targeting pumping stations near **Al Mesba'ah** and **Al Dhekra** in the **Riyadh** and **Medina** regions injured several people, prompting Saudi Arabia to shut down the pipeline as a precaution; the pipeline normally carries about **5 million barrels** of crude oil a day from the Gulf coast to the **Red Sea** port of **Yanbu** and forms Saudi Arabia's main alternative export route while the **Strait of Hormuz** remains restricted. The government of **Iraq** confirmed that the attacks originated from its territory, said it had opened an investigation and dismissed two senior officials; Saudi Arabia said it "strongly condemned" the attack but announced it would not retaliate for now at Baghdad's request. **IEA**, in its September **Oil Market Report**, cut its 2026 global oil supply forecast by another **1.4 million barrels a day**, raising the projected annual supply decline from **4.3 million barrels a day** in its previous report to **5.7 million barrels a day** and pushing back the return of normal Gulf output to **2027**; global demand is also expected to fall by **2.5 million barrels a day** in 2026. **Trump** told reporters on Saturday that he believes the Iran war could end right after the **November** midterm elections, predicting that oil prices would then "come tumbling down"; Iranian President **Masoud Pezeshkian** responded by saying his country had successfully stood up to **Israel** and the **United States** and would not bow to "bullying arrogance."