Crude oil reportedly hits 11-day low amid hopes for Iran war diplomacy

@straits_timesOil prices slide on hopes of diplomacy in Iran war https://bit.ly/4hjns8a

@elerianmDespite another day of lower international crude oil prices, refined product markets continue to move in the opposite direction. According to AAA data (below), diesel has pushed above $6.50 a gallon, while regular gas is near $4.50. Also and of note, refined products are increasingly featuring in diplomatic interactions, as this recent example (below) from the Financial Times illustrates -- this as pressure grows for export bans. #economy #markets #energy #oil #diesel @FT

@zerohedgeTop Overnight News Oil prices slid to their lowest in 11 days on Monday as investors ‌hoped for diplomatic progress on the Iran war due to this week's UN meeting, and eyed a partial recovery in shipments from Saudi Arabia. Brent crude futures and US West Texas Intermediate crude touched their lowest since September 10 earlier on Monday. The Brent contract for November was at $101.75 a barrel at 0859 GMT, down $2.12, or 2%. RTRS The Iran war has created a new shortage on the oil market. This time the scarce commodity isn’t just crude—it is the ships that carry it. Drone attacks that shut Saudi Arabia’s bypass pipeline earlier this month have forced more crude back through the Strait of Hormuz and onto a tanker fleet already stretched thin. WSJ The US and China have agreed to set up an AI dialogue ahead of a high-stakes summit on Thursday in Washington between Donald Trump and Xi Jinping. US Treasury secretary Scott Bessent said the two sides had negotiated the creation of an AI dialogue mechanism, which was floated when Trump met Xi in Beijing in May, in talks with Chinese vice-premier He Lifeng in New York on Sunday. FT China is more than halfway toward its pledge to buy 25 million tons of US soybeans this year, but a commitment to purchase at least another $17 billion of American farm products has largely stalled. BBG OpenAI projects it will burn through almost $280bn by the end of 2030, highlighting its huge long-term funding needs as the AI company pushes for a valuation of more than $1.2tn in fresh investment talks. The company expects negative free cash flow of $278bn over five years from 2026 to 2030 as it invests aggressively to expand its access to computing power. FT Friedrich Merz vowed to stay on as German chancellor after his CDU suffered heavy losses in state elections. The party won just 4.9% in Mecklenburg-Western Pomerania, shutting it out of a regional assembly for the first time in the country’s postwar history. BBG SoftBank’s seeking the equivalent of over $11 billion for AI investments in what would be one of the biggest junk bond deals ever, people familiar said. BBG Wall Street banks are expecting the US to borrow up to $1tn over the next year by selling short-term Treasury bills as part of a growing dependence on quick-maturing debt that leaves Washington vulnerable to rising interest rates. FT The Fed’s Austan Goolsbee warned the central bank cannot ignore repeated and persistent supply shocks, and must respond in a way that may cause economic hardship. BBG Investors are betting on a Fed win the inflation fight, turning bullish on front-end Treasuries. Two-year yields remain well above the central bank’s range, offering scope for the securities to rally if inflation eases or rate hikes are less than priced. BBG

@EconomicTimesOil slips as investors assess Saudi export recovery https://economictimes.indiatimes.com/markets/commodities/news/oil-slips-as-investors-assess-saudi-export-recovery/articleshow/134377961.cms

@NBCNewsOil prices fell sharply fell for a fifth straight trading session, reaching a two-week low on hopes of a renewed diplomatic push to end the Iran war and optimism over the reopening of a critical pipeline in Saudi Arabia. https://www.nbcnews.com/business/business-news/oil-prices-fall-saudi-pipeline-iran-hormuz-trump-talks-rcna599166?cid=sm_npd_nn_tw_ma&taid=6ab27bdfa35f3400016854f3&utm_campaign=trueanthem&utm_medium=social&utm_source=twitter

@businessHere’s the latest news and analysis on the oil market https://www.bloomberg.com/news/articles/2026-09-22/latest-oil-market-news-and-analysis-for-sept-23?taid=6ab32111a35f340001685b9c&utm_campaign=trueanthem&utm_content=business&utm_medium=social&utm_source=twitter

@FTOil price on track for longest losing streak in more than 12 months https://ft.trib.al/0vJOBNi

Crude oil reportedly hits 11-day low amid hopes for Iran war diplomacy

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Crude oil reportedly hits 11-day low amid hopes for Iran war diplomacy

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