Trump's UN Talks Ease Oil Price Jitters

Oil prices declined on Wednesday after US President Donald Trump said he had 'very good' talks with Iranian representatives at the United Nations.

The three-hour meeting was described as 'very productive' by Trump, who added that another meeting is scheduled for the near future.

Despite his earlier statement of potentially annihilating Iran, Trump's words seemed to ease market concerns about an escalating war in the Middle East.

International benchmark Brent crude fell below $98.41 per barrel, while West Texas Intermediate dropped to $89.23 per barrel, both below the symbolic $100 mark.

Stephen Innes at Quintex Intel noted that the meeting has shifted market expectations from pure escalation pricing toward a genuine diplomatic process.