Oil Prices Fall After Trump Hails 'Good' Talks With Iran
Brent crude fell below $100 a barrel as traders priced in lower Middle East risk and a reported Saudi pipeline restart, analysts said.
- Oil prices fell on Wednesday after President Donald Trump characterized talks between US and Iranian representatives at the United Nations as "very good," with West Texas Intermediate dropping 1.4% to $89.23 and Brent crude declining 0.9% to $98.41.
- Launched by Trump and Israel in February as "Operation Epic Fury," the conflict has lasted nearly seven months and disrupted global energy supplies; Iran's closure of the Strait of Hormuz has further squeezed exports from the region.
- Iranian Foreign Minister Abbas Araqchi, Steve Witkoff, and Jared Kushner engaged through a Qatari mediator in New York, with Tehran demanding an end to the war and a halt to US "acts of aggression."
- According to Stephen Innes at Quintex Intel, the three-hour meeting shifts the market from "pure escalation pricing toward a genuine diplomatic process," though Iran hardliners have criticized the diplomatic contact.
- Traders are watching a summit on Thursday between Trump and China's President Jinping focused on trade, while Saudi Arabia reportedly aims to resume exports via the East-West Pipeline later this week.
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Watch Trump Hails Good US-Iran Talks After Annihilation Threat
Brent crude fell on Wednesday morning after Donald Trump said US and Iranian officials had held "very productive" talks. Prices were also weighed down by news that Saudi Arabia was restarting an oil pipeline.
Oil falls, stocks steady as Trump hails ‘good’ Iran talks
LONDON (AFP) : Oil prices fell and stock markets traded steadier Wednesday after recent volatility, as Donald Trump said US and Iranian representatives met for “very good” talks at the United Nations. The US president added that the three-hour meeting was “very productive” and that two countries “have another one scheduled in the very near […]
Oil prices fell after talks between the US and Iran improved. Brent fell 4 percent to $99 after talks between the US and Iran and crude oil supplies improved. WTI was seen trading at $89 a barrel while […]
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