{
  "id": 9523324,
  "title": "Oil extends gains on little sign of progress in US-Iran talks",
  "url": "https://urgent.news/2026/09/24/oil-extends-gains-on-little-sign-of-progress-in-us-iran-talks",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-24T01:16:48.000Z",
  "source": {
    "name": "CNA - Business",
    "slug": "cna-business",
    "url": "https://www.channelnewsasia.com/business/oil-extends-gains-little-sign-progress-in-us-iran-talks-6406841"
  },
  "original_language": "en",
  "account": "Oil prices surged over 2 percent on Thursday as US-Iran diplomatic talks showed little progress, with investors focusing on potential US bans on diesel exports. Brent crude futures jumped $2.32, or 2.25 percent, to $105.40 a barrel, while West Texas Intermediate futures rose $1.78, or 1.93 percent, to $93.94 a barrel. Iran and the US remain at odds over ending their conflict, but Tehran says it will not surrender to US pressure. Iran is reviewing Washington's response to its peace proposals, which focus on lifting a US naval blockade and reopening the Strait of Hormuz. Despite this, the physical oil market is not fully normalized, according to Priyanka Sachdeva, head of market insights at Phillip Nova. Brent retains a larger geopolitical and sea-route premium due to its exposure to Middle East and Hormuz disruptions, while WTI benefits more from US supply insulation. On Wednesday, Iran's security chief said the Strait of Hormuz would not reopen until Iran's conditions are met. US Secretary of State Marco Rubio said a deal with Iran would require hard work over time, and President Trump has military options. Traders also considered possible US curbs on diesel exports, with Ultra-low-sulfur diesel futures falling about 5 percent in US midday trading after Politico reported a 90-day diesel ban, though the White House denied this. US Energy Secretary Chris Wright said a diesel export ban would not work, even as Trump expressed support for it. Analysts warn such a ban would not ease high energy prices and could worsen global supplies, further disrupting economies. US distillate stockpiles, including diesel and heating oil, fell 428,000 barrels last week, while US crude inventories rose 3 million barrels.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "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."
}