Trump Hails 'Good' Iran Talks as Oil Prices Dip

Oil prices dropped on Wednesday following US President Donald Trump's announcement that talks between the US and Iran were 'very good'.

The three-hour meeting at the United Nations was seen as a positive development, with hopes of diplomatic progress towards ending the Middle East conflict.

Brent North crude, the international benchmark, remained under $100 per barrel, down 0.1 percent at $99.15 per barrel.

Stephen Innes at Quintex Intel noted that the UN meeting shifted the market from 'pure (war) escalation pricing toward a genuine diplomatic process', even if a final deal still looks distant.