Brent crude oil tops $100 per barrel again

Brent crude oil prices surged back above $100 per barrel on Wednesday, September 23, 2026, closing at $102.67 with a 3.45% daily gain, driven by renewed uncertainty over the Iran war and conflicting diplomatic signals at the UN General Assembly. US WTI rose 1.16% to $91.57 per barrel. Prices had fallen earlier on improved Gulf flows and hopes for diplomacy, including Saudi Arabia restarting the East-West pipeline and increased Strait of Hormuz shipments. However, President Trump's statements about a "big decision" on Iran and possible escalation revived supply concerns. Indirect US-Iran contacts occurred at the UN, the first in months, with Trump calling them productive. Yet an Iranian official said the sides remain far apart on terms, and President Masoud Pezeshkian vowed Iran would not surrender to American pressure, keeping markets on edge.