Oil prices fell as Iran opened up to diplomacy and US inventories declined.
Oil prices fell as Iran opened up to diplomacy and US inventories declined.
2026-09-24
Shafaq News – Follow-up
Oil prices fell on Thursday, after rising 4% in the previous session, as Iran announced its openness to a diplomatic path to end the war with the United States, amid continued disagreements between the two countries over the mechanisms for reaching an agreement.
Brent crude futures fell 94 cents, or 0.9%, to $102.13 a barrel, while West Texas Intermediate crude futures dropped 59 cents, or 0.7%, to $91.56.
A senior Iranian official said Tehran is studying the American response to peace proposals, which include lifting the naval blockade on Iranian ports and reopening the Strait of Hormuz, noting that the two countries remain divided on how to end the war.
In a related context, the US Energy Information Administration announced that crude oil inventories in the United States rose by 3 million barrels during the past week, reaching 426.4 million barrels.
U.S. fuel inventories declined as traders continued to assess reports of possible restrictions on U.S. diesel exports, amid White House denials of reports that a plan was being prepared for a 90-day export ban.
shafaq.com
