Oil Prices Ease as US-Iran Talks Raise Hopes of De-escalation
Oil prices slipped and global stock markets steadied on Wednesday as signs of possible diplomatic progress between the United States and Iran eased some concerns over further escalation in the Middle East.
US President Donald Trump said American and Iranian representatives held a “very good” meeting at the United Nations, describing the three-hour talks as productive. He added that another meeting is expected soon.
The comments came shortly after Trump told the UN that he faced a major decision over whether to pursue a deal with Iran or take military action.
Brent crude remained below $100 a barrel as investors assessed the possibility of diplomacy helping to reduce tensions.
Oil prices also came under pressure after Saudi Arabia reportedly restarted operations on its East-West Pipeline, a key export route that had been disrupted by drone attacks. Saudi Arabia is reportedly preparing to resume exports through the route later this week.
Meanwhile, the OECD said global economic growth has remained resilient despite the conflict and slightly raised its growth forecasts for 2026.
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