At the end of trading on Friday, September 27, 2026, the oil market maintained its downward trend, with both major crude oil indices retreating from the highs at the beginning of the week. The latest trading data shows that the price of Brent oil is around 23 million and 632 thousand tomans per barrel, while West Texas is around 23 million and 161 thousand tomans.
Oil and Product Prices
Considering the closure of regular global oil markets on Saturday, the basis for oil prices at the start of this day will be the last recorded rates from Friday's trading. In the latest available data, Brent oil is approximately 103 million and 380 thousand dollars, and for the purpose of this report's pricing format, its equivalent in tomans is considered; that is, about 23 million and 632 thousand and 668 tomans per barrel. The price of West Texas is also valued at about 23 million and 161 thousand and 752 tomans per barrel.
Friday's decline continued a drop in prices over three consecutive trading sessions. Brent reached around 102 to 103 during trading, and West Texas returned to the 100 range. Market reports indicate that the retreat in prices is more due to increased trader confidence in finding alternative routes for oil transportation and hope for the restoration of some damaged infrastructure than a complete reduction in supply risks.
State of the Oil Products Market
At the same time, the retreat of oil prices from the week's peaks does not mean a complete normalization of the market. The prices of both major indices are still above 100 dollars, and traders continue to closely monitor the supply situation in the Middle East, shipping routes, and export trends. In the global oil products market, gasoline has decreased compared to the previous day, with the latest trading data showing the price of gasoline at about 788 thousand and 670 tomans per gallon, reflecting a drop of about 1.75 percent.
This point is important because the prices of oil products do not necessarily move in tandem with crude oil. In some situations, crude oil may become cheaper, but due to reduced refinery capacity, storage limitations, or increased demand, the prices of gasoline and diesel may remain high. The price of heating oil is also calculated at about 1 million and 168 thousand tomans per gallon in the latest trading data.
In the domestic market of Iran, the most significant change in fuel prices in recent days has been related to the third tier of gasoline. Since early Tuesday, September 17, 2026, the price of this tier has risen from 5 thousand tomans to 10 thousand tomans. The two main quotas remain unchanged at 1500 tomans and 3000 tomans per liter.
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