Sixth Straight Day of Oil Price Declines Amid Iran-US Diplomatic Hopes

Oil prices declined for a sixth consecutive day to around $99 a barrel, marking the longest losing streak in over a year. The dip in Brent crude comes as US President Donald Trump's comments on Iran-US talks spark cautious optimism.

The recent string of declines has some market participants attributing it to the ongoing tensions between the US and Iran, but others are viewing it as an opportunity for diplomatic off-ramps.

US President Donald Trump stated that his officials had 'very good' talks with Iranian envoys in New York, reviving hopes for a peaceful resolution hours after he threatened to 'annihilate' the country's ruling regime.