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Oil Drops as Traders Track Hormuz Diplomacy Prospects

Bloomberg Markets Tuesday 22 September 2026, 09:35 UTC 1 min read
Key Points

Brent fell toward $99 a barrel, after tumbling over the previous four sessions. Oil erased earlier gains on a report that Iran could reopen the Strait of Hormuz if the US lifted a blockade of its ports. US President Donald Trump is set to address the United Nations General Assembly in New York later, and he may meet with his Iranian counterpart, Masoud Pezeshkian.

Brent fell toward $99 a barrel, after tumbling over the previous four sessions. Oil erased earlier gains on a report that Iran could reopen the Strait of Hormuz if the US lifted a blockade of its ports. US President Donald Trump is set to address the United Nations General Assembly in New York later, and he may meet with his Iranian counterpart, Masoud Pezeshkian. Bloomberg's Will Kennedy breaks down the situation. (Source: Bloomberg)
Iran (LOCATION) the Strait of Hormuz (LOCATION) US (LOCATION) Donald Trump (PERSON) the United Nations General Assembly (ORG) New York (LOCATION) Iranian (ORG) Masoud Pezeshkian (PERSON) Bloomberg (PERSON) Will Kennedy (PERSON)
Originally published by Bloomberg Markets Read original →

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