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WTI falls below $91 amid US-Iran uncertainty and shifting supply plans
WTI traded around $90.8 per barrel in Asian hours, as US efforts to curb diesel exports and Saudi pipeline restart plans added to headline-driven volatility.
WTI oil prices eased after modest gains, slipping below $91 per barrel to trade around $90.8 during Asian hours on Thursday, according to FXStreet. The move came amid continued uncertainty around US-Iran diplomatic efforts.
FXStreet reports that Iranian President Masoud Pezeshkian told the UN General Assembly that Tehran would not yield to threats and reiterated its right to pursue nuclear technology for economic development. He also said Iran would restrict freedom of navigation through the Strait of Hormuz while US sanctions and blockades remain in place.
On the US side, the outlet said Energy Secretary Chris Wright announced the Trump administration is working with domestic refiners to voluntarily reduce US diesel exports, offering an alternative to a formal overseas shipment ban. The same report noted shifting energy dynamics, including Saudi Arabia’s plan to resume oil exports through its East-West pipeline and Ukrainian President Volodymyr Zelenskyy’s discussions with President Donald Trump about a potential energy ceasefire.
FXStreet added that TD Securities urged caution on “deal headlines,” saying strategists remain skeptical until there is concrete progress. It warned that with speculative positioning in crude becoming more elevated, the market is increasingly vulnerable to sentiment swings rather than fundamentals.
Latest closeWTI crude $91.79 ▼3.0%