Oil Prices Rebound as ING Warns Supply Risks Remain Elevated on Libya Outage, US-Iran Tensions

Oil prices reversed course on September 22, 2026, posting gains ahead of a UN General Assembly session expected to address U.S.-Iran peace talks, even as ING Bank warned that supply-side risks remain elevated. Brent crude had fallen to $100 per barrel from $108 last week after Saudi Arabia shut a key pipeline bypassing the Strait of Hormuz. Higher-than-feared Saudi shipments through Hormuz eased supply concerns and, combined with diplomatic hopes, pressured prices through late last week and early this week. But a fresh disruption emerged from Libya, where an armed group shut a valve at the pipeline linking the Sharara oilfield to the Zawiya export terminal, cutting output to roughly 127,000 barrels per day from about 340,000 bpd. Meanwhile, U.S. Treasury Secretary Scott Bessent threatened Iranian airlines with a "shut-down" from Wednesday, warning that airports refusing to refuel them or sell tickets would be cut off from the dollar system. ING strategists Warren Patterson and Ewa Manthey said market sentiment continues to balance peace-talk hopes against ongoing supply disruptions.