Oil prices decline as Iran declares its openness to diplomacy

Oil prices fell today, Thursday (September 24, 2026), after rising by four percent during the previous session, at a time when Iran announced that it was still open to diplomacy to end the war with the United States.

Brent crude futures fell 94 cents, or 0.9 percent, to $102.13 per barrel, while West Texas Intermediate crude futures fell 59 cents, or 0.7 percent, to $91.56.

A senior Iranian official told Reuters yesterday, Wednesday, that the positions of Iran and the United States are still far apart on how to end the war, but diplomatic efforts must continue, after the Iranian president stated before the United Nations General Assembly that Tehran will never yield to American pressure.

The official added that Tehran is studying Washington's response to its proposals to end the war. The proposals focus on lifting the US naval blockade on Iranian ports and reopening the Strait of Hormuz.

The official said that reopening the Strait of Hormuz and lifting the naval blockade imposed by Washington on Iran were discussed during indirect talks on Tuesday.