{
  "id": 10039497,
  "title": "Oil prices drop about 3% as US, Iran explore path out of war",
  "url": "https://urgent.news/2026/09/25/oil-prices-drop-about-3-as-us-iran-explore-path-out-of-war",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-25T21:00:00.000Z",
  "source": {
    "name": "Gulf Times Business",
    "slug": "gulf-times-business",
    "url": "https://www.gulf-times.com/article/734175/business/oil-prices-drop-about-3-as-us-iran-explore-path-out-of-war"
  },
  "original_language": "en",
  "account": "Oil prices experienced a noticeable decline of approximately 3% on Friday, driven by optimistic prospects for a potential truce between the United States and Iran, despite concerns that heightened attacks against Saudi Arabia by Houthi fighters could further strain the Middle Eastern energy supply. Brent crude futures closed at $104.32 per barrel, while US WTI crude settled at $92.41 per barrel. Throughout the week, Brent crude rose by 0.4%, whereas WTI crude experienced a 9.7% decrease. In New York, US and Iranian negotiators are in discussions to devise a gradual path out of the conflict, which would involve Iran reopening the Strait of Hormuz and the United States lifting its economic sanctions on Iran. However, in the Middle Eastern region, military leaders from Saudi Arabia, Turkey, and Pakistan are scheduled to meet to provide assistance to Saudi Arabia, which is currently facing Houthi attacks that have disrupted oil flows, a critical component of the world's largest energy exporter. Spot liquefied natural gas (LNG) prices in Asia experienced a decline as subdued demand in northeast Asia and optimism regarding progress in the US-Iran talks put downward pressure on the market. The average LNG price for November deliveries to northeast Asia dropped from $27.00 per million British thermal units (mmBtu) the previous week to $25.85 per mmBtu. As winter approaches, Japan's robust LNG inventories and limited pre-winter restocking by South Korea due to mild weather expectations provide some relief in the short term. In Europe, the Dutch TTF gas price settled at $24.09 per mmBtu, marking a 9.5% weekly decline. Favorable LNG imports, high supply rates, and seasonally weak demand contributed to easing near-term supply concerns, resulting in ample cargo availability for both immediate and future deliveries in the region.",
  "summary": "OilOil prices fell about 3% on Friday on mounting hopes for a truce between the US and Iran, even as traders worried that increasing attacks against Saudi Arabia by Houthi fighters could further disru...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Qatar Tribune Business",
        "title": "Oil prices drop about 3% as US, Iran explore path out of war",
        "url": "https://urgent.news/2026/09/26/oil-prices-drop-about-3-as-us-iran-explore-path-out-of-war",
        "published": "2026-09-26T21:00:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}