Oil Prices Dip Amid US-Iran Diplomacy Uncertainty

Oil prices dipped on Thursday after a nearly 4% surge in the previous session as investors weighed tensions between Washington and Tehran against signs of ongoing diplomatic efforts.

The decline came despite Iranian President Masoud Pezeshkian's address to the United Nations General Assembly, where he emphasized that Iran would not surrender to U.S. pressure while maintaining its openness to diplomacy.

U.S. President Donald Trump had warned a day earlier that he could 'annihilate' Iran if a deal to end the conflict couldn't be reached.

Tehran is reviewing Washington's response to an Iranian proposal to end hostilities, although significant differences remain.