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Commodities

Oil Prices Tumble on Iran Talks Optimism, Saudi Pipeline Restart

Guavy AI Editorial Team
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Oil
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Oil prices continued to decline on September 22, 2026, as optimism around Iran talks and Saudi pipeline restarts weighed on markets. West Texas Intermediate for November fell below $90 a barrel after losing about 10% over the previous five days.

The slump in oil prices comes despite US President Donald Trump's assertion that officials had a 'very productive' meeting with Iranian envoys, even after he threatened to annihilate the Islamic Republic during a United Nations speech. More meetings are planned, according to Trump.

Saudi Arabia's decision to restart a key pipeline added to the downward pressure on oil prices. The Brent crude benchmark settled near $99 on Tuesday, down from earlier losses.

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