Trump's Iran Talks Send Oil Prices Plummeting Below $100 Mark

Oil prices slid on Wednesday after US President Donald Trump announced that US and Iranian representatives had met for 'very good' talks at the United Nations.

The international benchmark, Brent crude, dipped to $98.91 per barrel, while the main US contract, West Texas Intermediate, fell to $89.93 per barrel in early Asian trade.

Trump's announcement came after he delivered a bellicose address to the UN, saying he faced a 'big decision' on whether to make a deal with Iran or 'annihilate the Islamic Republic and do it quickly.'

Analysts said the meeting could shift the market from pure escalation pricing toward a genuine diplomatic process.