Oil Extends Gains as US-Iran Talks Stall; Brent Tops $103, WTI Near $92

Oil prices extended gains on September 24, 2026, after climbing 4% in the prior session, as US-Iran diplomatic talks showed no concrete progress toward ending the war. Brent crude rose 43 cents, or 0.4%, to $103.51 a barrel at 0630 GMT. West Texas Intermediate climbed 35 cents, or 0.4%, to $92.51. Benchmarks fell in Asian morning trade but rebounded as investors found no clear direction amid the geopolitical deadlock. Iranian President Masoud Pezeshkian told the UN General Assembly Tehran would never surrender to US pressure, and a senior Iranian official said peace proposals prioritize lifting the US naval blockade on Iranian ports and reopening the Strait of Hormuz. Iran's security chief Mohsen Rezaei said the Strait would not reopen until Iran's conditions are met. US Secretary of State Marco Rubio said a deal would require hard work, noting President Donald Trump retains military options. Ultra-low-sulfur diesel futures fell about 5% after Politico reported a possible 90-day diesel export ban, which the White House denied.