Oil Prices End September With Strong Gains as Brent Rises About 14%
Oil prices ended September 2026 with strong monthly gains as Brent crude settled at $103.50 a barrel and U.S. West Texas Intermediate closed at $90.42.
According to Reuters, Brent gained about 14% during September while WTI rose roughly 5%, despite signs that Gulf crude exports were recovering from earlier disruptions.
Oil prices rise as US-Iran talks remain stalled
Prices gained on September 30 after U.S. President Donald Trump denied that Washington was prepared to ease sanctions on Iran in exchange for steps related to Tehran’s nuclear program.
Qatari mediation between Washington and Tehran continued, but the lack of a clear agreement kept geopolitical risk embedded in energy prices.
Brent gains around 14% in September
Brent crude settled at $103.50 a barrel, while West Texas Intermediate finished at $90.42.
The monthly performance left Brent up roughly 14% in September and WTI about 5% higher.
The gains show that markets are still assigning a significant risk premium to Gulf supply and shipping disruptions.
Hormuz remains central to the market
The Strait of Hormuz remains a major factor in oil pricing because of its importance to crude and petroleum product exports from the Gulf.
Profile News has previously examined how Iran, U.S. policy and the Strait of Hormuz have become increasingly connected to energy markets and maritime security.
Gulf oil exports are recovering
Reuters reported signs of improving Middle East supply, including the resumption of Saudi crude shipments from its Red Sea export facilities and a broader recovery in Gulf oil flows.
Profile News has also tracked oil prices and Iran-related supply risks as geopolitical tensions pushed crude markets higher during September.
US inventories send a mixed signal
U.S. Energy Information Administration data showed commercial crude inventories rising by 922,000 barrels in the week ending September 25 to approximately 427.3 million barrels.
At the same time, tighter inventories in parts of the refined-product market helped support fuel prices and offset some of the downward pressure from recovering crude supply.
What comes next for oil?
Oil enters October with competing forces shaping the outlook.
Persistent tensions involving Iran and the Strait of Hormuz, tight fuel markets and shipping costs can support prices, while recovering Gulf exports or diplomatic progress could reduce the geopolitical premium.
As oil prices begin the new month with Brent above $100, the market will remain highly sensitive to developments in Gulf supply, U.S.-Iran diplomacy and global fuel inventories.
Sources
Reuters — September 30 oil settlement, monthly gains, Iran talks, Gulf exports and U.S. fuel markets.
U.S. Energy Information Administration — Weekly Petroleum Status Report for the week ending September 25, 2026.
