Oil prices steady near $102 amid U.S. Iran talks watch

September 22, 2026 (MLN): Oil prices edged higher on Tuesday, stabilizing after several sessions of losses as investors monitored developments surrounding possible U.S.-Iran talks during the United Nations General Assembly in New York this week.

Currently, Brent crude futures is down, 0.07%, at $101.71 per barrel, according to data by Mettis Global.

West Texas Intermediate (WTI) crude futures is down by $0.63, or 0.67%, to $93.38 per barrel by [10:09 am] PST

Market participants remained focused on diplomatic developments after the United States and Iran exchanged threats on Sunday.

U.S. President Donald Trump, however, said he remained open to meeting Iranian President Masoud Pezeshkian, who is expected to attend the UN General Assembly this week.

Iran also communicated conditions to mediators over the weekend for a possible return to negotiations, Al Jazeera reported, citing Iran’s security chief Mohsen Rezaei.

According to Waterer, oil prices could remain range-bound and highly responsive to headlines until there is clearer progress or a setback in U.S.-Iran diplomatic efforts.

Meanwhile, tensions in the Middle East remained elevated after Yemen’s Iran-backed Houthis said they had attacked Riyadh and a Saudi Aramco facility in Yanbu, while intensifying efforts to block Saudi-backed forces from the Red Sea coast, according to CNBC. 

Three Iranian sources said China had privately called on Tehran to help restrain Houthi attacks after Saudi Arabia approached Beijing over a recent escalation in the group’s military activity.

Saudi Aramco has increased crude exports through the Strait of Hormuz after attacks on its East-West Pipeline prompted the company to suspend some shipments through Yanbu.

Tanker tracking data showed Saudi Aramco loaded around 14 million barrels of crude onto seven supertankers inside the Gulf on Sunday.

Separately, Libya’s National Oil Corp Chairman Massoud Suleman told Reuters on Monday that production at the Sharara oilfield had been partially reduced, although he did not provide a reason for the decline.

Copyright Mettis Link News