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Oil Slips After 5% Rally With Iran Truce Hopes Building
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- Published
- Sep 25, 2026, 1:58 AM UTC
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US and Iranian negotiators in New York are discussing a phased route out of the war that would see Tehran reopen the Strait of Hormuz and Washington lift its economic blockade of Iran, according to multiple reports.
Oil prices have dropped roughly 2%, influenced by signs of diplomatic advancement between the US and Iran concerning the Strait of Hormuz. As negotiations unfold, the US is contemplating a ban on diesel exports, impacting crude oil futures. Meanwhile, escalating assaults by Houthi fighters are hindering oil supply…