WTI crude oil prices traded in a volatile range near $90–$98 per barrel during the week of September 21, 2026, pressured lower by unwinding geopolitical risk premiums after reports of U.S.-Iran diplomatic talks aimed at reopening the Strait of Hormuz and easing sanctions. Hopes for a phased truce at the UN General Assembly, combined with a surprise 3 million barrel U.S. crude inventory build and recovering Saudi exports through Gulf terminals, drove the decline despite ongoing Houthi attacks on Saudi facilities and a widening Brent-WTI spread. Traders are monitoring further inventory data, FOMC signals on rates, and any escalation in Middle East supply disruptions that could reprice the market-implied path for energy benchmarks.