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US-Iran Standoff Keeps Oil Rising, Brent Above $100

Astron Team · 09/24/2026 · 3 min read

Oil rose again on Thursday. Brent was trading at $104.86 per barrel, up 1.73%, and WTI at $93.39, up 1.33%. Earlier, Brent had already touched $106.50.

The driver is the lack of progress in talks between the United States and Iran. Tehran wants an end to the American naval blockade of its ports and the reopening of the Strait of Hormuz, an essential route for Gulf oil. With no agreement, the market keeps pricing in a geopolitical risk premium.

Diesel is also on the radar. Contracts in Europe remain near record highs while rumors circulate about restrictions on American fuel exports, which the White House denied. In the US, distillate stocks fell 428,000 barrels to 107.4 million, while crude oil stocks rose 3 million barrels, against expectations of a decline.

With talks stalled, shipping routes under tension, and little slack in diesel stocks, oil remains highly sensitive to any diplomatic or regulatory news.

Source: Traders Union.