Oil Prices Swing as US-Iran Talks Stall Over Hormuz

Oil prices fluctuated in late September 2026 as talks between the United States and Iran showed little progress, with Brent crude holding above $102 a barrel and at times climbing above $105 on fears of escalation. The stalled negotiations center on conditions related to the Strait of Hormuz, a key route for global oil shipments. European gas prices also rose as the tensions clouded supply outlooks. Prices eased briefly when Iran signaled openness to diplomacy to end the war, but rebounded as hopes for a breakthrough faded.