Oil is trading lower after Iran's Foreign Minister confirmed that Iran has submitted to the U.S. a seven-day plan to reopen the Strait of Hormuz and start discussions on Iran's nuclear program.

Oil is trading higher as U.S.-Iran tensions remain elevated after stalled bilateral talks, with Iranian President Pezeshkian saying "we will not bow to U.S. pressure." Several business groups warned President Trump against a planned diesel export ban, suggesting it would be counterproductive and raise fuel prices.

Oil is trading higher amid possible investor disappointment over a lack of progress in U.S.-Iran peace negotiations at the ongoing UN meetings. Speeches and comments by representatives of the two countries have been more bellicose in tone and lack mention of ceasefire conditions or potential next steps.

Bank of America Says It May Take $150 Oil to Break the Economy

Bank of America raised its second-half Brent forecast to $95 a barrel. The bigger warning is in the tail: if disruptions last into spring 2027, oil may need to top $150 before demand breaks.

'White House Eyes Diesel Fuel Moves That Fall Short Of Export Ban' - Politico

https://www.politico.com/news/2026/09/25/white-house-diesel-fuel-01092922

U.S. Baker Hughes Oil Rig Count +3 To 455; U.S. Baker Hughes NatGas Rig Count +1 To 135; U.S. Baker Hughes Total Rig Count 599 Vs 595 Prior

U.S. Central Command Posts On X "U.S. Marines assigned to the 11th Marine Expeditionary Unit train aboard USS Boxer (LHD 4) as the ship sails in regional waters and continues to support enforcement of the U.S. blockade against Iran. As of Sept. 25, CENTCOM forces have redirected 122 commercial vessels to ensure strict compliance."