Oil futures climbed modestly amid threats to Saudi export routes and ahead of potential US-Iran nuclear talks, while Treasury Secretary Bessent announced plans…
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Oil prices rose on Monday as markets weighed supply disruption risks. A reported attack on Saudi Arabia's East-West Pipeline threatened key export routes, supporting prices, while futures also found support ahead of potential US-Iran talks that could impact nuclear negotiations, per Reuters.
Treasury Secretary Scott Bessent told CNBC that Washington is pressuring Iran "like never before" and that all Iranian airlines will be shut down starting Wednesday. The announcement represents a significant escalation in US sanctions pressure on Iran's aviation sector.
The oil price gains came amid broader market uncertainty. A severed fiber-optic cable in New Jersey disrupted air travel across parts of the Northeast on Monday, highlighting infrastructure vulnerabilities in the US transportation system, per Fox Business.
Little is known about which Chinese business executives, if any, will attend an upcoming Trump-Xi dinner, CNBC reported, noting uncertainty around the high-level economic meeting's private sector participation.
Sources: 1. CNBC: Here's who we know is going to the Trump-Xi dinner so far — https://www.cnbc.com/2026/09/22/heres-who-we-know-is-going-to-the-trump-xi-dinner-so-far.html (src1) 2. CNBC: All Iranian airlines to be 'shut down' from Wednesday, Bessent tells CNBC — https://www.cnbc.com/2026/09/22/us-iran-war-trump-hormuz.html (src2) 3.