Oil prices dip following signals of potential US-Iran negotiations

Global oil prices declined on Friday, September 25, 2026, interrupting a two-day rally. Brent crude dropped to $105.4 per barrel, while U.S. West Texas Intermediate (WTI) fell to $92.9 per barrel. This market shift followed statements from the Iranian President suggesting that the responsibility to end the current conflict lies with the United States, sparking optimism regarding a potential diplomatic breakthrough. Reports indicate that U.S. and Iranian negotiators, meeting on the sidelines of the UN General Assembly, are discussing a staged agreement that would include the reopening of the Strait of Hormuz.

Despite the daily dip, Brent crude is poised for a 1.4% weekly gain, whereas WTI is set for a weekly decline of 3.3%. The recent surge of oil prices above $100 per barrel has reignited inflation concerns and intensified expectations for further interest rate hikes by the U.S. Federal Reserve. Additionally, the U.S. dollar is heading for a weekly increase of approximately 1%. Meanwhile, uncertainty regarding supply persists due to ongoing attacks on energy infrastructure in the Middle East, as Iranian Foreign Minister Abbas Araghchi confirmed that Tehran has submitted a new proposal regarding the Strait of Hormuz.