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Oil Prices Fall Below $100 as US-Iran Talks Signal Diplomatic Progress

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Oil prices fell below $100 per barrel after US President Donald Trump announced that American and Iranian representatives had productive discussions on the sidelines of the United Nations General Assembly in New York.

The Brent crude benchmark dropped to $98.41 per barrel, while US West Texas Intermediate declined to $89.23 per barrel as investors responded to renewed hopes for diplomatic engagement in the Middle East.

Trump said that the three-hour meeting between the two countries was 'very good' and 'productive,' with another round scheduled in the near future.

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