Oil prices fall, WTI posts nearly 8% weekly loss
26/09/2026
Argaam
Oil prices fall on Friday, while WTI posts a 7.85% weekly loss amid hopes for a US-Iran ceasefire.
Oil prices fell on Friday as markets assessed the possibility of a ceasefire between the US and Iran.
US and Iranian negotiators in New York are discussing a phased path to end the war that could involve reopening the Strait of Hormuz in exchange for Washington lifting its economic blockade on Iran, Reuters reported, citing sources familiar with the matter.
US oil rigs rose for a fourth straight week, increasing by three units this week, data from Baker Hughes showed.
|
Oil Futures Prices |
||||
|
Crude |
Price ($/bbl) |
Change ($) |
Change (%) |
Weekly Performance |
|
Brent (November) |
104.32 |
(2.28) |
(2.15) |
+0.43% |
|
NYMEX WTI (October) |
92.41 |
(2.20) |
(2.33) |
(7.85%) |
Market Indices
Dubai
5,897.57
(9.63)
(0.16 %)
Abu Dhabi
9,960.24
(33.00)
(0.33 %)
TASI
10,542.23
(47.72)
(0.45 %)
Qatar
9,209.53
(49.77)
(0.54 %)
Kuwait
9,063.91
13.25
0.15 %
Muscat
7,828.06
39.92
0.51 %
Bahrain
1,898.90
(2.96)
(0.16 %)
Commodity Price
Brent Crude Oil
101.51
0.58
0.57%
Nymex
89.08
(1.16)
(1.29%)
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