Commodities
US-Iran Talks Send Oil Prices Tumbling
Oil prices dropped as US President Trump hailed 'good' talks with Iran. The US-Iran meeting marked a shift in market sentiment, moving from pure escalation pricing to a genuine diplomatic process.
The price of Brent crude hit $99.30 per barrel and West Texas Intermediate fell to $89.93 per barrel after the three-hour meeting.
Trump's statements came just hours 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.'
'The three-hour US-Iran meeting matters because it shifts the market from pure escalation pricing toward a genuine diplomatic process,' said Stephen Innes at Quintex Intel.