Crude Oil Prices Fall as Markets Weigh Iran Truce Hopes and Saudi Attacks | September 25, 2026

Crude oil prices edged lower on Friday, September 25, 2026, as markets weighed the possibility of a truce between the US and Iran against renewed attacks in the Middle East, as per news reports. The decline followed a volatile week in which both major crude benchmarks recorded sharp moves. 

Brent crude fell 74 cents, or 0.69%, to $105.85 a barrel at 0032 GMT. West Texas Intermediate (WTI) declined 81 cents, or 0.86%, to $93.80 a barrel. 

Both contracts had gained as much as 5% on Thursday. Brent settled 3.4% higher, while WTI rose 2.7%. Brent recorded its highest close since September 15, 2026, while WTI posted its first gain after falling for six consecutive sessions. 

Iran Truce Hopes Keep Oil Markets Cautious 

US and Iranian negotiators in New York are reportedly exploring a phased route towards ending the conflict. The discussions could involve Tehran reopening the Strait of Hormuz and Washington lifting its economic blockade of Iran. 

The Strait of Hormuz remains a key concern for energy markets because of its importance to global oil and gas shipments.  

Since the war began at the end of February, around a fifth of global oil and gas shipments have reportedly been curtailed. 

Attacks Keep Supply Risks in Focus 

Saudi Arabia said it intercepted six ballistic missiles fired by Yemen's Iran-backed Houthis. The attacks targeted areas including Taif and the Yanbu region on the Red Sea. 

Saudi Arabia is also increasing crude pumping volumes through its East-West Pipeline towards Yanbu, although crude tanker loadings from the export hub have not yet resumed, according to industry sources, satellite imagery and shipping data. 

Iranian President Masoud Pezeshkian said on Thursday that the US would have to decide whether to end the war, adding to uncertainty around the diplomatic process. 

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Conclusion 

Oil prices remain sensitive to developments around Iran, the Strait of Hormuz and attacks affecting regional energy infrastructure. Truce discussions could ease supply concerns, while further disruptions could keep crude markets volatile. 

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