US-Iran Talks Spark Oil Price Drop Amid Renewed Negotiations

European equities closed mixed on Tuesday (22nd) as investors weighed the possibility of renewed US-Iran negotiations during this week's UN General Assembly.

The talks, which have been ongoing for some time, may finally be showing signs of progress. According to Japan's Kyodo News, citing senior Iranian officials, Tehran has put forward a proposal to Washington: if the US agrees to lift its military blockade of Iranian ports, Iran would reopen the currently blockaded Strait of Hormuz within seven days.

This move is being interpreted as a key concession by Iran aimed at breaking the prolonged standoff and forcing the US back to the negotiating table. As a result, oil prices fell again after posting their first rebound in five trading sessions, reflecting easing concerns over supply disruption risks.