Iran’s seven-day plan sends Brent crude down to $104.3

Brent crude futures fell 2.1% to $104.3 a barrel on Friday. U.S. crude also lost 2.3%, while Iran’s seven-day plan presented to the United States and its proposals concerning the Strait of Hormuz came into focus in energy markets.

Scraper SystemSeptember 26, 2026, 10:02 AM

Iran’s seven-day plan sends Brent crude down to $104.3

Brent crude futures fell 2.1% on Friday to $104.3 a barrel. U.S. crude futures also declined 2.3% to approximately $92.4.

Developments concerning the possibility of a ceasefire between the United States and Iran contributed to the decline in oil prices. Iran presented the United States with a seven-day plan aimed at ending the conflict.

Plan calls for reopening the Strait of Hormuz

Iran’s proposal includes reopening the Strait of Hormuz and continuing nuclear talks. Iranian Foreign Minister Abbas Araghchi said at a news conference in New York held as part of the 81st session of the United Nations General Assembly that the plan largely mirrors the commitments in a memorandum of understanding signed by the United States and Iran in June but abandoned shortly afterward.

Araghchi said Iran was ready to implement the plan if Washington accepted the proposal.

The U.S. administration conducted positive and constructive contacts in the talks through mediators, while it would not rush to reach an agreement.

Hormuz dispute stalled the talks

Thousands of people were killed in the conflict that began on February 28 with a war launched by the United States and Israel against Iran. The government in Tehran also carried out attacks targeting Israel as well as U.S. bases and positions in the region.

Although the United States later carried out attacks on targets in Iran and the two countries signed a memorandum of understanding in mid-June, no progress was made in the talks. The deadlock was linked to a dispute over navigation in the Strait of Hormuz, a key route for global energy and goods transportation.

Iran’s seven-day plan sends Brent crude down to $104.3