Canada Commodities: Oil Prices Slips on Reports That Saudi Pipeline to be Repaired Shortly

09:47 AM EDT, 09/16/2026 (MT Newswires) -- Oil prices are lower Wednesday morning after the US said Saudi Arabia's damaged pipeline would be repaired in days, multiple media outlets are reporting. US Energy Secretary Chris Wright said the pipeline outage was a "brief and temporary interruption" that would only last "days", when he spoke to CNBC on Tuesday. Saudi Arabia's pipeline to the Red Sea was damaged by drone attacks earlier this week. West Texas Intermediate October crude oil futures, the US benchmark, fell 1.7% to $104.04 per barrel. November Brent oil futures, the international benchmark, edged down 1% to $107.69 a barrel. Comex gold December futures rose 1.5% to $4,396.40 per ounce, on rate hike expectations. The US Federal Reserve will announce its policy decision this afternoon. In agricultural commodities, December wheat futures fell 0.2% to $7.27 per bushel, while canola futures for November edged up 0.9% to CA$836.90 per tonne.