Login
Why Crude Oil Prices Eased After Brent Touched $108 as US-Iran Hormuz Talks Resurfaced – UKOUSD and USOUSD CFD Analysis
Vantage Editorial Team >
Vantage Editorial Team >
Vantage is a global, multi-asset broker with a team of in-house writers and market analysts who produce educational and insightful trading content for traders of all levels.
Updated Fri, 2026 October 2 08:52
Crude oil prices eased on 25 September 2026 after reports of phased US-Iran talks on reopening Hormuz. At 09:45 (GMT+8), Brent (UKOUSD) traded near $105.79, above its one-hour (H1) 200-period moving average (MA), while West Texas Intermediate (WTI, USOUSD) sat near $96.47, below its own.
As of 09:45 (GMT+8) / 01:45 (UTC) on 25 September 2026, the Vantage UKOUSD Contract for Difference (CFD) traded near $105.79 and the USOUSD CFD near $96.47, per the TradingView setup used for this analysis.
If you had the Brent crude oil price live on one screen and a crude oil price ticker on the other on Thursday, you felt every tick. Houthi missiles aimed at Saudi Arabia coincided with Brent futures touching $108.23, before reports of phased US-Iran talks took the heat out of it.1,3
Today’s crude oil rate sits lower, but Brent futures were still up more than 17% for September as of Thursday.1 The twist is how differently the Brent Crude Oil CFD and WTI Crude Oil CFD absorbed the same crude oil news today.
Crude Oil Price Now: Brent and WTI at a Glance
| Metric | UKOUSD (Brent) | USOUSD (WTI) |
| Vantage CFD Price, 09:45 (GMT+8), 25 September | Near $105.79 | Near $96.47 |
| H1 Low, 22 to 23 September | Near $97.60 (22 September) | Near $92.50 (23 September) |
| H1 High, 24 September | Near $108.40 | Near $100.30 |
| H1 200-Period MA | 104.51 (price above) | 99.41 (price below) |
| H1 50-Period MA | 102.53 (price above) | 95.76 (price above) |
| RSI (14) | 54.56 | 46.25 |
| Futures Settlement, 24 September | $106.60 (+3.4%) | $94.61 (+2.7%) |
| Support Traders Are Monitoring | 104.50ish (H1 200-Period MA) | 95.75ish (H1 50-Period MA) |
| Resistance Traders Are Monitoring | 108.00 to 108.40 | 99.40 to 100.30 |
Table 1: Vantage CFD and H1 chart readings as of 09:45 (GMT+8) / 01:45 (UTC) on 25 September 2026 from TradingView; futures settlements from CNBC.1 Reference levels only. Not trade signals.
A Houthi-Linked Spike, Then a Hormuz Cool-Down
On Thursday, Brent futures climbed more than 3% after a senior Iranian military official said Tehran could widen the Middle East conflict to the Indian Ocean if attacked.2 Brent settled 3.4% higher at $106.60, with WTI crude oil futures 2.7% higher at $94.61, well off their peaks.1
Under the reported first phase, Iran would reopen Hormuz if the US lifted its blockade and granted access to frozen Iranian assets, though two Iranian sources told Reuters the talks were stalling.3 An Iranian official said Tehran sent mediators its proposal on 16 September and could reopen the Strait within seven days if Washington eased pressure and lifted its blockade.4
KCM Trade’s Tim Waterer said elevated prices reflect that “critical supply routes and facilities are still vulnerable,” with UN diplomacy offering only some counterweight.5
Brent Held Its One-Hour 200-Period Average as WTI Slipped From $100
This is where the oil price chart gets interesting. On the Vantage UKOUSD H1 chart, Brent climbed from a low near $97.60 on 22 September to a high near $108.40 on 24 September. One candle wicked to around $104.40, near the H1 200-period MA, and closed near $105.90.
As of the 09:45 (GMT+8) cut-off, the Brent crude oil price today sat above the H1 200-period MA at 104.51 and the H1 50-period MA at 102.53. The 14-period Relative Strength Index (RSI) read 54.56 on the TradingView setup used for this analysis, cooling from above 70.
UKOUSD H1 “Brent Held Above the H1 200-Period MA After the 25 September Asian-Session Dip” (TradingView, https://www.tradingview.com/symbols/UKOUSD/) Accessed on 25 September 2026, 09:45 (GMT+8). Data indicative, for informational purposes only.
WTI tells a softer story, rising from near $92.50 on 23 September to a high near $100.30 on 24 September and topping its H1 200-period MA only briefly. At the cut-off, the current WTI crude oil price sat near $96.47, below that average at 99.41 and above the 50-period MA at 95.76.
USOUSD H1 “WTI Slipped Back Below the H1 200-Period MA After a Brief Move Above $100” (TradingView, https://www.tradingview.com/symbols/USOUSD/) Accessed on 25 September 2026, 09:45 (GMT+8). Data indicative, for informational purposes only.
A $12 Brent-WTI Gap Meets a Surprise US Stock Build
Brent settled about $11.99 above WTI on 24 September, going by the crude oil futures price.1 On Vantage CFDs, the gap stood near $9.32 at the cut-off. The weekly split agrees: OilPrice.com had Brent on course for a weekly gain, with WTI futures near $93.11, down from around $98 on Monday.6
In US data, the Energy Information Administration (EIA) reported a 2.969 million barrel crude build for the week to 18 September, against forecasts of a 0.641 million barrel draw, with Cushing stocks up 2.266 million barrels.7 That build coincided with WTI lagging a Gulf-driven rally that feeds more directly into Brent oil.
Sparta Commodities’ June Goh said “the gap in oil inventories globally is getting wider.” 6 None of this is a view on where the spread moves next.
What to Watch Before 30 September
– Hormuz Talks, Ongoing: Official confirmation from Washington or Tehran.3
– Iran’s Seven-Day Offer, Ongoing: Any US response to the 16 September proposal.4
– EIA Weekly Petroleum Status Report, 30 September: The next US crude and Cushing stock update.8
Our Brent crude oil news, WTI crude oil news, oil price news today, oil news, and commodity market news pages track today’s crude oil prices and oil news today, alongside wider commodities news.
Brent covered more than $10 between 22 and 24 September on the H1 chart, and Friday’s Asian session opened with a gap below Thursday’s close. Gaps like that can see a Stop Loss order filled away from its set level, and Brent, WTI, and energy-linked currency positions can move together on one headline.
Leverage magnifies losses as well as gains, a double edge that sharpens when crude oil prices today react to headlines within minutes. Position size relative to account balance is one way traders frame exposure.
RISK WARNING: CFDs are complex financial instruments and carry a high risk of losing money rapidly due to leverage. You should ensure you fully understand the risks involved and carefully consider whether you can afford to take the high risk of losing your money before trading.
Disclaimer: The information is provided for educational purposes only and doesn’t take into account your personal objectives, financial circumstances, or needs. It does not constitute investment advice. We encourage you to seek independent advice if necessary. The information has not been prepared in accordance with legal requirements designed to promote the independence of investment research. No representation or warranty is given as to the accuracy or completeness of any information contained within. This material may contain historical or past performance figures and should not be relied on. Furthermore estimates, forward-looking statements, and forecasts cannot be guaranteed. The information on this site and the products and services offered are not intended for distribution to any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
References
[1] “Oil prices pull back from session highs after report of talks for phased reopening of Strait of Hormuz – CNBC” https://www.cnbc.com/2026/09/24/oil-iran-crude-kepler-trump-us-un-.html Accessed on 25 September 2026.
[2] “Latest Oil Market News and Analysis for Sept. 24 – Bloomberg” https://www.bloomberg.com/news/articles/2026-09-23/latest-oil-market-news-and-analysis-for-sept-24 Accessed on 25 September 2026.
[3] “US-Iran talks eye phased Hormuz deal, but leverage stalls progress (Reuters) – FXStreet” https://www.fxstreet.com/news/us-iran-talks-eye-phased-hormuz-deal-but-leverage-stalls-progress-202609241651 Accessed on 25 September 2026.
[4] “US, Iran hold mediated UNGA talks on ending war, opening Strait of Hormuz – Al Jazeera” https://www.aljazeera.com/news/2026/9/23/us-iran-hold-mediated-unga-talks-on-ending-war-opening-strait-of-hormuz Accessed on 25 September 2026.
[5] “Oil prices jump after Yemen’s Houthis claim attacks on Saudi facilities – Al Jazeera” https://www.aljazeera.com/economy/2026/9/25/oil-prices-jump-after-yemens-houthis-claim-attacks-on-saudi-facilities Accessed on 25 September 2026.
[6] “Brent Set for Weekly Gain as Houthi Attacks Rattle Saudi Oil Supply – OilPrice.com” https://oilprice.com/Latest-Energy-News/World-News/Brent-Set-for-Weekly-Gain-as-Houthi-Attacks-Rattle-Saudi-Oil-Supply.html Accessed on 25 September 2026.
[7] “US crude inventories rise 2.969 million barrels vs 641,000-barrel draw expected – InvestingLive” https://investinglive.com/commodities/us-crude-inventories-rise-2-969-million-barrels-vs-641-000-barrel-draw-expected/ Accessed on 25 September 2026.
[8] “Weekly Petroleum Status Report – US Energy Information Administration” https://www.eia.gov/petroleum/supply/weekly/ Accessed on 25 September 2026.
The information has been prepared as of the date published and is subject to change thereafter. The information is provided for educational purposes only and doesn't take into account your personal objectives, financial circumstances, or needs. It does not constitute investment advice. We encourage you to seek independent advice if necessary. The information has not been prepared in accordance with legal requirements designed to promote the independence of investment research. No representation or warranty is given as to the accuracy or completeness of any information contained within. This material may contain historical or past performance figures and should not be relied on. Furthermore estimates, forward-looking statements, and forecasts cannot be guaranteed. The information on this site and the products and services offered are not intended for distribution to any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
