Iran Talks Boost Oil Prices Fall Amid Saudi Pipeline Restart Plans

Oil prices extended their decline on optimism about talks between the US and Iran to end their war. West Texas Intermediate (WTI) for November fell below $90 a barrel, while Brent settled above $99. The price drop follows a 10% loss over the previous five days.

US President Donald Trump said officials had a 'very productive' meeting with Iranian envoys, despite earlier threats to annihilate Iran. Further meetings are planned, he added.

In the Middle East, Saudi Arabia aims to restart its critical East-West pipeline in coming days, enabling Riyadh to bypass the Strait of Hormuz. The pipeline was damaged in attacks earlier this month.