Oil Prices Slide as Diplomatic Hopes Rise

Oil prices have fallen to their lowest level in over a week as investors grow optimistic about diplomatic progress between the U.S. and Iran at this week's UN meeting, alongside a partial recovery in shipments from Saudi Arabia.

The price of WTI oil is below $95 a barrel, while Brent is below $100 a barrel, as some of the risk premium is being removed from oil prices on hopes of diplomatic de-escalation between the U.S. and Iran.

Saudi Arabian exports have increased to around 4 million barrels a day in September after falling to 2.4 million in August, which marked the lowest level since 2013.