Brent crude falls to six-day low on US-Iran talks

Brent crude oil prices fell for a sixth consecutive day, reaching their lowest level since September 8, after optimism grew over a potential US-Iran agreement. The benchmark is now about 10% below its monthly high. The decline follows talks between American and Iranian officials in New York, where Iran presented demands for reopening the Strait of Hormuz. Technical indicators suggest prices may dip further toward a rising trendline near $95 before a potential bounce, though a break below that level could signal a new downtrend. Analysts at Goldman Sachs expect China's oil imports to remain limited in the coming months, with a modest fourth-quarter increase of about 600,000 barrels per day. Ongoing risks include the prolonged US-Iran conflict, restricted Saudi exports, and continued inventory drawdowns.