U.S. crude futures gave back earlier gains and U.S. heating oil futures briefly fell as the U.S. and Iran discuss a phased agreement to reopen the Strait of Hormuz and end the blockade.

The European Bank for Reconstruction and Development (EBRD) expects Iraq's economy to contract 12% due to a decline in oil exports.

Jordan's foreign ministry said Israeli government policies and illegal measures that threaten regional security and stability have been exposed to the world. During the UN General Assembly, international opposition to Israel's inhumane policies is increasing. Jordan said it will continue to expose the humanitarian impact and destructive consequences of continued occupation and to push the international community for practical, effective and binding measures to curb Israeli expansion and aggressive policies. The ministry said Israel must be held accountable for alleged violations of international law and for the injustices, oppression and deprivation inflicted on the Palestinian people, as well as for the threats its actions pose to regional peace and security.