Crude Oil is trading $95.07 (+3.16%) as stalled US-Iran talks at the United Nations heighten fears that conflict could expand and disrupt shipments through the Strait of Hormuz.
- Reuters reported oil settled sharply higher on September 23 after diplomatic progress weakened.
- Iran maintained conditions around reopening the strait, while disruption concerns overshadowed inventory-build pressure.
- Recent losses make today’s rebound particularly significant.