Iran War Updates: U.N. panel cites possible U.S. war crimes as Trump again says Iran wants a deal

Updated on: September 17, 2026 / 7:53 AM EDT / CBS News

Crude oil prices dropped for a second day Thursday after U.S. Energy Secretary Chris Wright said a damaged Saudi oil pipeline should be running again "relatively soon."

The cost of a barrel of Brent crude, the international standard for oil prices, fell to about $103.50 Thursday morning, down from $105 Wednesday and $108 on Tuesday.

Despite there being no indication of any looming agreement to end the U.S.-Iran war, which has severely reduced the flow of oil out of the Persian Gulf, and an escalation in fighting between Saudi Arabia and the Iran-backed Houthis in Yemen threatening another vital waterway, markets appeared to take heart in Wright's reassuring outlook on the East-West Crude Oil Pipeline in Saudi Arabia.

The pipeline, a critical workaround for the Saudis to get their gas and oil to customers without using the Strait of Hormuz, was forced to shut down last week after being hit by drones. Saudi officials blamed the strikes on other Iranian proxy groups based in Iraq.

"The damage assessments are still going on," Wright told Fox Business. "Three pumping stations were hit. Two, maybe not so bad. One, one…

Original source: https://www.cbsnews.com/entertainment/