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Iran live updates: Oil prices rise after strikes in Saudi Arabia, Strait of Hormuz

Brent crude oil prices surpassed $107 a barrel on Monday morning.

Last Updated: September 14, 2026, 6:24 AM EDT

President Donald Trump announced "major combat operations" against Iran on Feb. 28, with massive joint U.S.-Israeli strikes targeting military, government and infrastructure sites.

Delegations from the U.S. and Iran entered negotiations in June aimed at a war-ending deal based on a memorandum of understanding signed by both countries.

Those talks broke down as the U.S. and Iran continued to exchange strikes, with the strategic Strait of Hormuz as the primary flashpoint. Trump then said in August that the U.S. would launch a "crushing economic operation" to force Tehran into submission.

3:05 AM EDT

Oil prices rise after strikes in Saudi Arabia, Strait of Hormuz

Global and U.S. oil prices continued to edge higher early on Monday morning, following attacks on Saudi oil infrastructure and the targeting of more commercial vessels in the Strait of Hormuz.

Brent crude oil prices, a benchmark for global trading, were more than $107 per barrel as of Monday morning, up nearly 3%. WTI crude oil, used as the North American benchmark, was nearing $103 per barrel up around 3%.

This handout satellite image released by Vantor shows a view of a pumping station along the general route of Saudi Arabia's East-West pipeline in al-Mesabaah, southeast of Medina, on Sept. 13, 2026, following an attack and resulting fires.
Vantor/AFP via Getty Images
Sep 13, 2026, 3:59 PM EDT

Monday meeting between Iran, regional countries postponed, Omani FM says

Omani Foreign Minister Badr Albusaidi said in a post on X Sunday that a planned meeting between Iran and regional countries has been postponed "in the interests of consensus."

The meeting was scheduled to take place Monday in Oman’s southern city of Salalah, where some regional countries were going to be briefed on talks between Iran and Oman regarding arrangements for shipping through the Strait of Hormuz, according to earlier reports by Iranian media.

"We remain committed to fostering dialogue that supports stability and lasting cooperation in our region," Albusaidi added.

-ABC News Somayeh Malekian

Sep 13, 2026, 10:44 AM EDT

Trump blames global diesel shortages on Ukraine, says Tehran wants a deal

President Donald Trump on Sunday said global diesel shortages are not a result of the ongoing conflict in the Middle East, instead blaming Ukrainian strikes on Russian oil facilities and urging Ukrainian President Volodymyr Zelenskyy to "stop knocking out diesel fuel in Russia."

"This isn't done by the Middle East. This is done by what's happening with Russia and Ukraine. So we spoke to Mr. Zelenskyy about it. There are plenty of other targets," Trump said to reporters at his golf course in Doonberg, Ireland, during the final day of the 2026 Amgen Irish Open.

"Don't hit diesel fuel because that's hurting. That's hurting the world. We don't want him to hit diesel fuel," Trump added of Zelenskyy.

President Donald Trump is pictured during the Irish Open golf tournament at the Trump International Golf Links & Hotel in Doonbeg, Ireland, on Sept. 13, 2026.
Paul Faith/AFP via Getty Images

Trump also again said the war in Iran will end "right after the midterms," though suggested a conclusion may come sooner. "Gasoline's going to drop like a rock, just like it was just before I got -- I mean, I knew what I was doing. I had to do it," Trump said.

"Iran wants to make a deal so badly. They are calling constantly. They want to make a deal. They got to make the right deal. I'm not going to make a deal that's no good," he added.

Asked about Monday's planned meeting in Oman between representatives of the Gulf nations and Iran, Trump said, "I don't care. That's up to them, that's fine. They could be happy."

"We'll ultimately get out, unless we decide to stay and keep the oil, like Venezuela," Trump said.

-ABC News' Emily Chang

(This post has been updated.)

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