Oil Falls for Fifth Straight Session on Hopes for Strait of Hormuz Reopening

Crude oil prices declined on Tuesday, September 22, 2026, extending losses for a fifth consecutive session as traders bet diplomatic efforts to end the U.S.-Iran conflict could soon restore shipping through the Strait of Hormuz. The Strait of Hormuz is the world's most critical oil chokepoint, carrying roughly one-fifth of global petroleum exports. Any disruption or restoration of flows through the waterway has an outsized effect on crude benchmarks. Markets interpreted signs of progress in negotiations as reducing the risk premium tied to potential supply interruptions, pressuring prices lower for a fifth day.