Story perspectives

Trump’s Iran meeting sparks 1.7% Brent oil jump

By Drooid · Sep 22, 2026, 10:42 AM UTC · How we work

Summary

Story summary

President Donald Trump said he would meet Iranian President Masoud Pezeshkian, spurring oil price gains.
Brent crude rose 1.7% to $102.06 per barrel on September 22.
Saudi Aramco loaded about 14 million barrels onto seven supertankers in the Gulf on September 20.
Iran-backed Houthis attacked Riyadh and a Saudi Aramco facility in Yanbu, keeping tensions high.
Tim Waterer of KCM Trade said the rise resembled a short-covering bounce, not a fundamental shift.

History

Historical Context

In October 1973, after Egypt and Syria began the Yom Kippur War, OAPEC led by Saudi King Faisal imposed an oil embargo on the United States and other Israel allies. The embargo cut production by 5 % and pushed world oil prices from $3 to nearly $12 per barrel—a 300 % rise by March 1974. The shock still shapes Brent price moves when diplomatic talks resume.

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Story summary

President Donald Trump said he would meet Iranian President Masoud Pezeshkian, spurring oil price gains.
Brent crude rose 1.7% to $102.06 per barrel on September 22.
Saudi Aramco loaded about 14 million barrels onto seven supertankers in the Gulf on September 20.
Iran-backed Houthis attacked Riyadh and a Saudi Aramco facility in Yanbu, keeping tensions high.
Tim Waterer of KCM Trade said the rise resembled a short-covering bounce, not a fundamental shift.

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