Trump's Iran Talks Send Oil Prices Tumbling Below $100

Oil prices fell on Wednesday after US President Donald Trump announced that American and Iranian representatives had held 'very good' talks at the United Nations. Brent crude, the international benchmark, slipped to $98.91 a barrel, while West Texas Intermediate, the main US contract, dropped to $89.93.

The meeting between the two sides was seen as a positive development, with Trump stating that they had another one scheduled in the near future. The talks come nearly seven months after US-Israeli strikes on Tehran triggered the conflict.

Saudi Arabia's East-West Pipeline, which was shut down by drones launched from Iraq, has been restarted. Riyadh aims to resume exports later this week, according to a Bloomberg report.