{
  "id": 9534431,
  "title": "Oil prices top $105 as hopes fade for US-Iran breakthrough",
  "url": "https://urgent.news/2026/09/24/oil-prices-top-105-as-hopes-fade-for-us-iran-breakthrough",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-24T10:27:46.000Z",
  "source": {
    "name": "The National Business",
    "slug": "the-national-business",
    "url": "https://www.thenationalnews.com/business/energy/2026/09/24/oil-prices-top-105-as-hopes-fade-for-us-iran-breakthrough/"
  },
  "original_language": "en",
  "account": "Oil prices surged to above $105 a barrel on Thursday, as expectations for a diplomatic breakthrough between the United States and Iran faded. Brent, the benchmark for two-thirds of the world's oil, reached $105.33 a barrel, having jumped over 2.18% from the previous day. West Texas Intermediate, a gauge tracking US crude, increased by 1.77% to $93.79 per barrel. The resurgence in prices began on Wednesday as conflicting signals from Iran cast doubt on the prospects for a resolution to the ongoing conflict.\n\nReports indicated that Iran had presented the US with a roadmap to end their standoff, which includes a regionwide ceasefire, gradual reopening of the Strait of Hormuz, and an end to the US blockade. However, conflicting statements from Iranian officials, such as Foreign Ministry spokesman Esmaeil Baghaei and security chief Mohsen Rezaei, created uncertainty about Tehran's willingness to negotiate.\n\nOn Tuesday, supply chain concerns were alleviated following the reopening of Saudi Arabia's East-West pipeline, a crucial corridor for the world's largest oil exporter. The kingdom had also sold nearly 100 million barrels of oil to Asian buyers, ensuring a steady supply to meet market demands. Despite these developments, the oil market continued to price in potential supply disruptions, as Norbert Rucker, head of economics at Julius Baer, noted the persistent risk premium in oil prices.",
  "summary": "Oil prices extended their rebound on Thursday, with Brent briefly topping $106 a barrel as hopes for a diplomatic breakthrough between the US and Iran faded after talks in New York yielded little progress. Brent, the benchmark for two-thirds of the world's oil, jumped 2.18 per cent to $105.33 a barrel at 1.44pm UAE time, after spiking by more than 3 per cent to climb above $106. West Texas…",
  "key_points": [
    "Oil prices exceed $105 a barrel amid fading US-Iran diplomatic hopes",
    "Iran presents US with roadmap for ceasefire and Strait of Hormuz reopening",
    "Supply chain concerns eased by Saudi Arabia's reopened East-West pipeline"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "The National UAE",
        "title": "Oil prices top $105 as hopes fade for US-Iran breakthrough",
        "url": "https://urgent.news/2026/09/24/oil-prices-top-105-as-hopes-fade-for-us-iran-breakthrough-9539753",
        "published": "2026-09-24T10:27:46.000Z"
      },
      {
        "outlet": "Middle East Eye",
        "title": "US-Iran hostility sees oil prices rise and shares fall",
        "url": "https://urgent.news/2026/09/24/us-iran-hostility-sees-oil-prices-rise-and-shares-fall",
        "published": "2026-09-24T10:38:10.000Z"
      }
    ]
  },
  "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."
}