The oil market on September 21, 2026, witnessed a decrease in most crude oil indices. North Sea Brent crude was traded at $101.81 per barrel, West Texas Intermediate (WTI) at $94.02, and Iran's light crude oil at $101.16.
Decrease in Crude Oil Prices
Iran's light crude oil and heavy crude oil both decreased by 2.02%, reaching $101.16 and $99.06, respectively. The OPEC basket is also offered at $100.86, indicating a 2.02% decrease. This price drop occurs while a different trend is observed in the market for refinery products.
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Increase in Refinery Product Prices
Conversely, the prices of some refinery products and energy products are increasing today. Light naphtha from the Persian Gulf has risen by 1.15% to $645 per ton. Additionally, LPG has increased by 1.40% to $590, and jet fuel and kerosene have also seen a rise of 0.60%. Vacuum bottom or export bitumen has increased by 0.80% to $365 per ton.
However, some other products, such as 10ppm diesel from the Persian Gulf, have decreased by 1.52% to $1,486.25 per ton, and fuel oil has also experienced a drop of 0.85%. This situation indicates significant differences in the direction of price movements in the energy market.
Impact on the Iranian Market
Changes in the prices of exported crude oil and petroleum products in the Iranian market are particularly significant for companies active in refining, petrochemicals, and energy exports. Especially since the ultimate effect of global price changes on the performance of these companies depends on various factors such as exchange rates, sales volume, product mix, and production costs.
In the short term, the direction of Brent and WTI will be one of the most important indicators of the energy market. Alongside this, changes in the prices of products such as naphtha, diesel, LPG, and jet fuel may also be important for players in the refining and petrochemical industry.
The current data presents a dual picture of the energy market. On one hand, the main crude oil indices, including Brent, WTI, Iran's light and heavy crude oil, and the OPEC basket, are all in a declining range. On the other hand, several refinery products, including naphtha, LPG, and jet fuel, have faced price increases.
This difference in the pricing trends of crude oil and refinery products indicates that the supply and demand conditions for each product can create a different path for its price. Therefore, for assessing the trends of the coming days, simultaneous monitoring of crude oil, refinery products, and natural gas becomes more important.
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