Trump Suggests Iran Deal Possible After November Elections
US oil prices continued their downward trend on Tuesday after President Donald Trump expressed optimism that a diplomatic resolution to the Middle East conflict could be reached. In his address at the United Nations General Assembly, Trump said he has a 'big decision' to make and suggested that he might seek an agreement with Iran after the November elections.
'I believe we'll make a deal right after the election because it doesn't make sense for them not to,' Trump said. The US and Iran have been engaged in a diplomatic process, with White House officials meeting with an Iranian delegation, and Iranian President Masoud Pezeshkian planning to visit New York City to meet with Trump.
The market reaction has been positive, with oil prices edging lower on expectations that both sides could be open to returning to the negotiating table. US crude oil futures for October tumbled $0.57, or 0.6%, to $95.21 per barrel, while Brent crude futures fell below $100.