ReportedShipping, energy & marketsGlobal oil markets
Oil snaps five-day losing streak as Brent jumps 3.9% to $103
- Mountain Time
- Local time
- 3:16 PM in New York
- Where
- Global oil markets
Brent crude rose 3.9% to settle at $103.08 a barrel on Wednesday and U.S. crude gained 1.8% to $92.16, ending five straight losing sessions after Iran's president told the UN General Assembly that Iran would not surrender. Earlier in Asian trading Brent had slipped to about $98 on hopes for the New York talks.
Why it matters
The swing showed how quickly optimism over the New York talks gave way once Pezeshkian struck a defiant tone at the UN, with the reopening of Hormuz still unresolved.
Sources (3)
- Bloombergbloomberg.com
- CNBCcnbc.comPublished
- Al Jazeeraaljazeera.comPublished
Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels
Correction
- Corrected the time from 5:00 AM New York time, Sep 23, 2026 to 3:16 PM New York time, Sep 23, 2026; corrected the headline (it read "Oil extends losses as US-Iran talks show progress, Saudi pipeline set to restart"); revised the summary; revised the context note; updated the sourcing note; added 2 sources: CNBC, Al Jazeera. Why and evidence