Numerous merchant ships belonging to Iran and other countries remain anchored in the Strait of Hormuz in Bandar Abbas, Iran, on September 8, 2026. Fatemeh Bahrami | Anadolu | Getty Images Oil prices extended gains early Thursday amid little evidence that talks between the United States and Iran were showing progress toward a diplomatic solution to the Middle East conflict. International benchmark Brent crude futures for November delivery rose 3.17% to $106.35 a barrel as of 4:28 a.m. ET. US West Texas Intermediate futures for November rose 2.56% to $94.52 per barrel. “The president of the United States described us as terrorists. We have been victims of terrorism,” Pezeshkian said, according to a live translation of his speech at the United Nations General Assembly. Pezeshkian also stated that his country will continue to fight back “until our last breath.” Traders are also weighing a report that Asia is on track to import its largest volume of crude oil since the start of the war. Asian crude oil imports rose in September to the highest level since the start of the war with Iran, Reuters reported. The region is on track to import 23.96 million barrels a day in September, up from 23.38 million bpd in August and the most since February, Reuters said, citing data compiled by commodities analysts Kpler. Stock Chart Icon Stock Chart Icon wti Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
