Crude Oil Below $91

2026-10-09 10:46 By Joana Taborda 1 min. read

Crude oil prices fell below $91 a barrel on Friday, consolidating after a 3.6% gain in the previous session, amid easing concerns over Middle East supply disruptions.

US President Trump said that Washington was engaged in “productive discussions” with Iran and would refrain from attacking the country ahead of the midterm elections.

Meanwhile, reports indicated that Tehran’s foreign minister said Iran was reviewing the US response to its proposal to reopen the Strait of Hormuz within seven days.

Adding to the downward pressure, China is set to resume refined fuel exports in October following a brief suspension during the Golden Week holiday.

On the other hand, threats to shipping through the Gulf and the Strait of Hormuz persist and supply risks continued in the Gulf of Mexico, where Hurricane Isaias forced producers to shut in approximately 1.3 million bpd as of Thursday, according to the US Marine Minerals Administration.

For the week, crude oil prices were little changed.



News Stream
Crude Oil Below $91
Crude oil prices fell below $91 a barrel on Friday, consolidating after a 3.6% gain in the previous session, amid easing concerns over Middle East supply disruptions. US President Trump said that Washington was engaged in “productive discussions” with Iran and would refrain from attacking the country ahead of the midterm elections. Meanwhile, reports indicated that Tehran’s foreign minister said Iran was reviewing the US response to its proposal to reopen the Strait of Hormuz within seven days. Adding to the downward pressure, China is set to resume refined fuel exports in October following a brief suspension during the Golden Week holiday. On the other hand, threats to shipping through the Gulf and the Strait of Hormuz persist and supply risks continued in the Gulf of Mexico, where Hurricane Isaias forced producers to shut in approximately 1.3 million bpd as of Thursday, according to the US Marine Minerals Administration. For the week, crude oil prices were little changed.
2026-10-09
Oil Prices Ease on Trump’s Remarks About Iran
Crude oil fell below $91 per barrel on Friday, trimming gains from the previous session after President Donald Trump said on social media that the US was engaged in “productive discussions” with Iran and would refrain from attacking the country before the midterm elections. Trump also claimed that record volumes of crude were passing through the Strait of Hormuz, while stressing that the US naval blockade of Iranian ports would remain fully in place. However, later reports indicated that the US had prepared plans for three days of strikes against Iran, targeting drone and missile stockpiles, energy infrastructure and other sites. On Thursday, oil prices surged by as much as 5.6% as Tehran intensified attacks on tankers navigating the Strait of Hormuz, with nine vessels reportedly targeted over the past week. Meanwhile, Hurricane Isaias threatened offshore oil production in the Gulf of Mexico, prompting producers to shut in around 1.3 million barrels per day of crude output.
2026-10-08
Crude Oil Gains on Renewed Supply Disruptions
Crude oil prices rose toward $91 a barrel in a volatile session on Thursday as Iran ramped up attacks on tankers transiting the Strait of Hormuz and Hurricane Isaias threatened US offshore production in the Gulf of Mexico. Nine tankers have come under attack in and around Hormuz over the past week, jeopardizing the recent recovery in crude oil flows through the strait. About 9.5 million bpd exited Hormuz in the week ended Tuesday, around 30% below normal levels before the Iran war. In the Gulf of Mexico, oil companies have shut in about 500,000 bpd, or 25% of offshore production, as Hurricane Isaias moves toward the Alabama, Mississippi and Florida Panhandle coasts. Prices had earlier retreated from session highs after US President Donald Trump said the US would not attack Iran before the November midterm elections. Earlier reports indicated that Trump and his national security team were considering renewed strikes in the coming weeks.
2026-10-08