Hong Kong-listed oil producers saw notable gains on September 24, with CNOOC Ltd and PetroChina Co Ltd each climbing more than 2% against a backdrop of renewed geopolitical tension.

Iran's President told the United Nations General Assembly that Tehran will not surrender in a war with the United States, adding that the country will not accept being forced into concessions through power politics, sanctions, or military threats. Meanwhile, the secretary of Iran's Supreme National Security Council stated that the Strait of Hormuz will not reopen until Iran's conditions are met.

On Wednesday, U.S. oil and Brent crude both broke a five-session slide by the afternoon trading session on the East Coast, moving away from the two-week lows they touched on Tuesday. The WTI November crude futures contract settled 1.81% higher at $92.16 per barrel, ending the longest losing streak since February 26. Brent's November contract surged 3.86%, marking its largest single-day gain since September 10, closing at $103.08 per barrel.

In other news, Politico reported that the Trump administration is preparing a 90-day ban on diesel exports. However, Reuters later cited a White House official posting on social media to dismiss the report as inaccurate. The U.S. Energy Secretary also said the same day that a diesel export ban "would certainly not work," noting that such a move would force refiners to cut output and consequently push up gasoline and jet fuel prices.