US-Iran Diplomacy Eases Oil Price Pressure

Oil prices have remained subdued following the US-Iran talks on the sidelines of the UN General Assembly. The meeting between US envoys and the Iranian delegation reportedly went well, with President Trump stating that another meeting is scheduled in the near future.

Despite this diplomatic progress, oil prices did experience a brief decline yesterday, but the downside was stemmed as Trump also threatened to take action against Iran, specifically mentioning Pickaxe Mountain. Additionally, reports of loud explosions in Saudi Arabia's capital, Riyadh, may have contributed to the stabilization of crude prices.