Commodities
Iran Diplomacy Hopes Weigh on Oil Prices Amid Diesel Shortage
Oil prices fell on September 24 as Iran indicated it remained open to diplomacy, reversing part of a 4% gain from the prior session.
Brent crude futures dropped 0.9% to $102.16 a barrel, while West Texas Intermediate (WTI) decreased 0.8% to $91.39.
The decline followed a statement by senior Iranian official Mohsen Rezaei, who said the Strait of Hormuz would not be reopened until Iran's conditions were met.
Diesel prices remain high due to refineries damage and export bans, with US distillate stocks falling 428,000 barrels last week.