Trump Teases Big Developments as Oil Prices Fall on US-Iran Meeting Prospect
Oil prices fell to a one-week low on Monday due to the prospect of a US-Iran meeting at the UN General Assembly this week. The meeting, which has not been confirmed by either side, could potentially ease tensions between the two countries.
US President Donald Trump told Fox News that he would be open to meeting Iranian President Masoud Pezeshkian in New York. Trump said he was in a 'deciding mode' and hinted at big developments regarding the US-Iran war, stating that 'very big things' will happen soon.
The choices on the table were wiping Iran out, letting it rot economically or making a deal, according to Trump. The President's comments came as Brent fell 2.31 percent to $101.5 a barrel by 03:50 GMT, while US West Texas Intermediate crude lost 2.3 percent to $97.98 a barrel.
Iran has warned the US and its regional allies that any new action would trigger 'continuous, effective and painful' attacks against US bases and interests across the region. The warning comes as Saudi Arabia intercepted and destroyed a ballistic missile launched by the Houthi militia towards Riyadh on Saturday.