AI Image
Oil prices mixed after U.S. and Iran talk for hours at UN meeting
CNBC • • world
Key Points:
- Oil prices showed mixed movements as investors considered the potential outcomes of U.S.-Iran talks amid conflicting signals from President Trump, who both hinted at a diplomatic solution and threatened to "annihilate" Iran.
- Brent crude for November delivery rose slightly to $99.51 per barrel, while U.S. West Texas Intermediate futures dropped to $90.09 per barrel.
- President Trump described a positive three-hour meeting with Iran's delegation but also warned of a major decision between striking a deal or military action.
- Reports indicated Iran might reopen the Strait of Hormuz within a week if the U.S. eases military pressure and lifts its blockade of Iranian ports.
- Experts suggest that ongoing diplomatic efforts, including Pakistan's mediation, could prevent a broader conflict and keep oil prices from surging significantly, noting a recent 12% price decline over five sessions.
