# Brent Stays Above $102 as Hormuz Reopening Conditions Stall Talks

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/23578
Published: 2026-09-24T05:23:05.000Z
Updated: 2026-09-24T05:23:05.000Z

Brent crude futures held above $102 a barrel early Thursday as stalled U.S.-Iran diplomacy left conditions for reopening the Strait of Hormuz unresolved, keeping a key energy route at the center of market concerns.

Brent stood at $102.16 a barrel at 12 a.m. ET (04:00 UTC) on Sept. 24, down 92 cents, or 0.9%, from the previous session. West Texas Intermediate futures fell 77 cents, or 0.8%, to $91.39 a barrel. Oil prices had gained 4% Wednesday.

Only three observable commodity vessels, including one Panamax oil tanker, crossed the Strait of Hormuz on Sept. 22, compared with a 10-day average of about 15 vessels. The count excludes ships that switched off their automatic identification systems, meaning the observed total does not capture every movement.

Iran’s proposals prioritize lifting the U.S. naval blockade on its ports and reopening Hormuz. The Strait is a major route for Middle Eastern energy exports, while Saudi Arabia’s East-West pipeline offers an alternative path for some crude shipments through the Red Sea. Partial service on that pipeline was restored before the latest price move.