Oil Prices Dip as US-Iran Tensions Ease, Trump Suggests Talks

Sep 18, 2026

78 min

Sep 18, 2026 07:30

US-Iran conflict: Oil prices ease as Trump signals possible path to talks

## Oil Prices Decline

Oil prices have decreased following a period of heightened tension between the US and Iran. This comes as Saudi Arabia has managed to find alternative routes to supply Asian refiners, restoring some confidence in the market.

## Trump Hints at Diplomacy

US President Donald Trump has indicated that Iran is interested in negotiating a deal, although he believes Tehran is not yet ready to agree to terms. Despite ongoing conflict, Trump suggests that a diplomatic resolution is possible.

## Incident in the Strait of Hormuz

A tanker was reportedly hit by an unknown projectile in the Strait of Hormuz, causing a fire that was later extinguished. The UK Maritime Trade Operations has advised caution in the area as investigations continue.

## US Sanctions Iranian Crypto Exchange

The US Treasury Department has sanctioned the Iranian cryptocurrency exchange BitBank, accusing it of facilitating transactions for Iran’s Revolutionary Guard Corps and bypassing sanctions.

## Saudi Pipeline Repairs

Following a drone attack that disrupted Saudi Arabia's East-West pipeline, repairs are underway. The US Energy Secretary has assured that the disruption will be temporary, which has helped ease market concerns.

## UN Sanctions Monitoring Vetoed

Russia and China have vetoed a UN resolution to continue monitoring sanctions on Iran. These sanctions were reimposed last year due to Iran's nuclear activities.

## US Approves F-35 Sale to Saudi Arabia

The US has approved the sale of 48 F-35 jets to Saudi Arabia, a move aimed at strengthening the kingdom's defense capabilities. This decision, however, has raised concerns in Israel.

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