Oil prices continued to decline after Saudi Arabia restored operations on its East-West pipeline, which can transport approximately 7 million barrels per day and provides an alternative to the Strait of Hormuz, a strategic oil-shipping chokepoint. The restoration eased immediate supply concerns after attacks had halted the pipeline and threatened up to 4% of global oil supply. Prediction-market pricing now puts the probability of crude oil reaching a new all-time high by September 30 at 1.3% YES, while the odds of WTI Crude Oil reaching $150 in September stand at 1.2% YES. Observers will focus on Middle Eastern geopolitical stability, OPEC production decisions, global demand and comments from Saudi Arabia’s Minister of Energy and OPEC members. The analysis is powered by Vera.