Oil prices dip below $100 as US-Iran talks progress and Saudi pipeline resumes
Oil prices dipped below $100 a barrel on September 23, 2026, as hopes grew for US-Iran talks and Saudi Arabia restored crude flows through a key pipeline to the Red Sea. Brent crude fell to $99.18, while West Texas Intermediate declined to $90.17. President Donald Trump said his envoys held productive discussions with Iranian mediators, adding "there's a lot of momentum for them to make a deal." Saudi Arabia restarted its East-West Pipeline after drone attacks on September 11, and Iraq is also raising oil exports above 3 million barrels per day. JPMorgan said it lost visibility on oil price direction for the first time since the Iran war began, while Goldman Sachs outlined a scenario where prices could reach $120 if shipping attacks intensify, or fall to $80 if exports normalize.