Event·Diplomatic

Oil dips after sharp gains as U.S., Iran reportedly explore Hormuz deal

25 SEP 2026 · 1000Z

Oil prices fell on Friday, as reports that the U.S. and Iran were exploring a phased deal to reopen the Strait of Hormuz tempered some supply concerns, although a Houthi missile attack on Saudi Arabia kept geopolitical risks elevated. As of 04:02 ET (08:02 GMT), benchmark Brent…