Oil falls on report Asia will import highest volume of crude since start of Iran war

Numerous merchant ships belonging to Iran and other countries remain at anchor in the Strait of Hormuz in Bandar Abbas, Iran, on Sept. 8, 2026. Fatemeh Bahrami | Anadolu | Getty ImagesOil fell Thursday, as traders assess a report that Asia is on track to import its highest volume of crude oil since the start of the US-Iran war while keeping watch on developments in the Middle East. Futures for international benchmark Brent crude for November delivery declined 0.52% at $102.54 a barrel. U.S. West Texas Intermediate futures for November dropped 0.34% at $91.85 per barrel.Stock Chart IconStock chart icon brent Asia's imports of crude oil rose in September to the highest level since the start of the Iran war, Reuters reported. The region is on track to import 23.96 million barrels per day ​in September, up from 23.38 million bpd in August and the most since February, Reuters said, citing data compiled by commodity analysts Kpler.Stock Chart IconStock chart icon wti Meanwhile, tensions continue to simmer between the U.S. and Iran after Iranian President Masoud Pezeshkian blamed the U.S. and Israel for stoking global instability. "The United States president described us as terrorists. W...