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Line chart showing WTI crude oil prices spiking after a Saudi pipeline strike in September 2026.

A Houthi strike on a Saudi Arabian east-west pipeline opened a second chokepoint in the region's oil supply chain this month, layering onto the months-long disruption in the Strait of Hormuz. WTI jumped 4.4 percent to $105.83 a barrel on September 15 before easing back on reports that Saudi Arabia was rerouting shipments through Oman. Canada is exposed on both sides of that volatility, as an oil importer paying a globally set price and as the only G7 country without a strategic petroleum reserve.

This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.

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