Global crude oil prices fell after Donald Trump revealed that talks between the US and Iran are proceeding well, while Saudi Arabia prepares to resume exports through a major oil pipeline.
On 23 Sep 2026 GMT+7, global oil prices declined after US President Donald Trump disclosed that US and Iranian representatives met in New York and the negotiations went well. Both sides plan to hold further talks soon, giving investors increased hope for diplomatic progress to resolve the Middle East conflict.
During morning trading in Asia, Brent crude oil, the global benchmark, fell to $98.91 per barrel, while West Texas Intermediate stood at $89.93 per barrel, below the $100 mark. Oil prices had surged above $100 multiple times since the Middle East conflict erupted in February.
Trump revealed the talks after meeting with Ukrainian President Volodymyr Zelensky. He said the three-hour meeting between US and Iranian officials was very good and highly productive, confirming that further discussions will take place soon.
Just hours earlier, Trump addressed the United Nations General Assembly, stating that the US faces a major decision: to reach an agreement with Iran or to carry out military operations to swiftly destroy the Islamic Republic.
Stephen Innes from Quintex Intel analyzed that the three-hour US-Iran meeting is significant for the market because it shifts oil price assessments from risks of escalating conflict to focusing on the diplomatic process, even though a final agreement remains distant.