Brent Holds Above $102 as Iran Talks Stall Over Hormuz Conditions
Brent Holds Above $102 as Iran Talks Stall Over Hormuz Conditions What I Cover Irina Slav has been writing about global energy markets since 2007, covering the oil and gas industry, energy security, commodities, and the… Crude oil prices took a dip today amid reports that there was willingness for peace in the Middle East on both sides of the conflict.
The dip partially offset gains made earlier in the week, keeping oil benchmarks elevated.
At the time of writing,Brent crudewas trading at $102.20 per barrel, andWest Texas Intermediatewas changing hands for $91.43 per barrel.
Earlier in the week, Brent crude dropped below $100 per barrel on reports about Saudi Arabia restarting its East-West pipeline and higher oil flows via the Strait of Hormuz.
The UN General Assembly, however, gave traders a reality check, with President Trump threatening Iran with “annihilation” during his speech to world leaders.
At the same time, Trump said peace talks were being “very productive”.
Iran’s president, Masou Pezeshkian, in turn, said that Iran was open to negotiating peace but added that it would not respond well to force.
“The remarks made by the US president yesterday ...
The Iranian people will not bow to pressure,” Pezeshkian said in his own speech at the UN General Assembly, asquotedby Reuters.
Iran has set a number of conditions for the United States to fulfil in order for the Strait of Hormuz to reopen.
has not rejected these outright this time, but it has not signaled it was open to fulfilling them, either.
The conditions include lifting the naval blockade on Iranian ports, an end to sanctions, and unfreezing Iranian assets.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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