Oil falls after U.S. and Iran talk for hours at UN meeting

iran-us-talks-crude-oil-UN-wti Skip Navigation Markets Business Investing Tech Politics & Policy Video Watchlist Investing Club PRO Livestream Menu Key Points President Donald Trump said Tuesday that U.S. officials had a "very good meeting" with Iran's delegation and that it lasted about three hours. Trump earlier said he has a "big decision" over whether to reach a deal with Tehran or "annihilate" the country. In this article @LCO26X Follow your favorite stocks CREATE FREE ACCOUNT Numerous merchant ships belonging to Iran and other countries remain at anchor in the Strait of Hormuz in Bandar Abbas, Iran, on Sept. 8, 2026. Fatemeh Bahrami | Anadolu | Getty Images Oil fell Wednesday, amid optimism that supply disruptions would ease following U.S.-Iran talks which raised hopes of a diplomatic solution to the conflict in the Middle East. Futures for international benchmark Brent crude for November delivery dropped 0.75% at $98.51 a barrel. U.S. West Texas Intermediate futures for November fell 1.03% at $89.59 per barrel. Stock Chart Icon Stock chart icon brent President Donald Trump said Tuesday that U.S. officials had a "very good meeting" with Iran's delegation and that it lasted about three hours. Earlier in his address to the U.N., Trump said he has a "big decision" over whether to reach a deal with Tehran or "annihilate" the country. "Pakistan's mediation efforts with Tehran could also reduce the risk of a broader escalation," said Paolo Broccardo, chief executive officer at private digital bank BankPro. Oil prices are also unlikely to see a huge jump for now, he said. "Over the past five consecutive sessions, the price has fallen by almost 12%, retreating once again from the 'intervention zone' above $100, where we have repeatedly seen intensified peace-building efforts from both sides," Broccardo said. Stock Chart Icon Stock chart icon wti Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.