"Developments Can't Be Ignored" As Brent Tumbles On Iran Talks, Saudi Pipeline Restart Hopes: UBS

[rangerrebew]

"Developments Can't Be Ignored" As Brent Tumbles On Iran Talks, Saudi Pipeline Restart Hopes: UBS
 
by Tyler Durden
Wednesday, Sep 23, 2026 - 07:45 AM

Brent crude slipped below $99 a barrel, falling as low as $97.77 in the overnight hours, as renewed US-Iran diplomacy and prospects for restored Saudi oil exports eased supply concerns. But as Goldman Sachs energy experts warned on Tuesday, the global refining nightmare will persist through next year.



The benchmark has slipped nearly 11% since mid-month after topping out around $109.65. Reports this week of a partial restart of Saudi Arabia's East-West pipeline and Asian buyers being slated to resume cargo loadings at Yanbu offered some relief to a tight physical market.

Full East-West pipeline repairs could take as long as two months, according to local reports. Even limited operations would ease the immediate supply squeeze.

President Trump said US officials held "very good" talks with Iranian representatives at the United Nations General Assembly in New York on Tuesday.

https://www.zerohedge.com/energy/developments-cant-be-ignored-brent-tumbles-iran-talks-saudi-pipeline-restart-hopes-ubs

[IsailedawayfromFR]

Buy the dip in energy stocks.

The consuming nations has used up its stored reserves and is desperate for buying crude to replace them. 
Also, the world is waking up to the fact that its bet to rely upon solar and wind was a very bad bet as winter approaches.

The world requires the crude from the Middle East for the foreseeable future to maintain its standard of living.