Saudi Arabia’s crude exports fell about 33% to 3.03 million barrels a day in August, while production dropped 23% to 6.23 million barrels a day, according to an OPEC report. The declines, linked to shipping disruptions and an escalating Houthi threat around the Bab el-Mandeb Strait, helped push Brent and West Texas Intermediate futures up more than 6% on September 10. Brent settled at $107.63 a barrel and WTI at $102.48, both their highest levels since May 19. Renewed inflation concerns also drove government bond yields higher after U.S. August producer prices rose 5.4% year over year, the ECB raised its policy rate by a quarter point and the 10-year U.S. Treasury yield reached 4.969%. Investors are increasingly concerned that elevated oil prices and borrowing costs could persist, weighing on economic activity, equities and sentiment. Saudi exports could fall further in September as the Middle East war continues and the Houthis threaten the Bab el-Mandeb Strait.