September 24, 2026: Brent crude slipped below USD 99 a barrel on Wednesday, extending its decline to a sixth session as diplomatic signals from the United States and Iran coincided with the restart of a Saudi oil route.
The benchmark was quoted around USD 98.71 a barrel, down 8.71 percent over the past week. Another crude benchmark was near USD 89.79, according to the report.
US-Iran talks in focus
US President Donald Trump described a meeting with Iranian envoys as “very productive” and said he was considering a negotiated agreement. Markets are watching whether diplomacy can reduce the threat to oil shipments through the Strait of Hormuz.
Any agreement remains uncertain. Traders will look for concrete steps on shipping and supply before treating the decline as durable.
Saudi Arabia has restarted its East-West pipeline, which carries crude from its eastern oilfields to the Red Sea port of Yanbu. The route offers exporters a way around the Strait of Hormuz
(Source: Free Press Journal)
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