World oil prices today September 24, 2025: Rising as exports from Kurdistan have not resumed
World oil prices today September 19, 2025: World oil prices increased again after the plan to restore oil exports from the Kurdistan region (Iraq) to Türkiye continued to stagnate.
Brent crude oil rose $1.18, or 1.8%, to $67.75 a barrel on September 24. US West Texas Intermediate (WTI) crude oil also rose $1.27, or 2%, to $63.55 a barrel. Both crudes recovered some of their previous losses after four consecutive sessions of losing about 3%.
Oil exports via pipeline from the Kurdistan region of Iraq to Türkiye have not yet resumed, despite earlier expectations of an agreement between the Iraqi central government, the Kurdistan regional government and oil and gas companies.
The two major producers are demanding debt guarantees before agreeing to restart pumping, a plan that would bring about 230,000 barrels a day of oil to the market that has been suspended since March 2023.
The overall picture shows that oil prices are still under pressure from forecasts of oversupply. The International Energy Agency (IEA) predicts that global supply will continue to grow rapidly this year, and there could be a stronger surplus from 2026 as OPEC+ and non-OPEC countries expand production. However, the risk of shortages remains as the European Union considers imposing tougher sanctions on Russian oil exports, along with geopolitical tensions in the Middle East.
A preliminary survey showed U.S. crude inventories likely rose last week, while gasoline and distillate inventories fell. Investors are awaiting an official report from the American Petroleum Institute for more clarity.
According to analysts, the development of distillate oil inventories is a factor to monitor, especially in the context of Ukraine's recent attacks on two Russian oil distribution facilities in Bryansk and Samara, raising new concerns about supply.