Oil prices fell on Wednesday amid optimism that supply disruptions might ease following U.S.-Iran talks that raised hopes of a diplomatic solution to the Middle East conflict. Brent crude futures for November delivery dropped 0.75% to $98.51 a barrel, while U.S. West Texas Intermediate futures fell 1.03% to $89.59 per barrel. U.S. and Iranian delegations met for about three hours in New York, with President Trump describing it as a « very good meeting ». Over the past five consecutive sessions, oil prices have declined by nearly 12%, retreating from the intervention zone above $100. Pakistan’s mediation efforts with Tehran could also reduce the risk of broader escalation.
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