Insights

Weekly Market Commentary – 25th September 2026

25 September 2026

This week oil traders were once again dancing to Donald Trump’s tune as a potential meeting between the US and Iranian presidents on the sideline of the UN’s annual general meeting raised hopes that a breakthrough was possible. In the end, Trump delivered another confrontational speech and there was no meeting between the rival leaders. But high-level direct talks were held for the first time in several months and Iran proposed a new ceasefire to allow some traffic through the Strait of Hormuz. The price of oil swung from $107 to below $100 and back up again.