Oil falls as U.S. and Iran hold talks at UN meeting

Oil prices fell Wednesday after U.S. and Iranian officials held talks at the United Nations, boosting hopes for a diplomatic resolution to the Middle East conflict and easing concerns about supply disruptions. Brent crude futures for November dropped 0.75% to $98.51 a barrel, while U.S. West Texas Intermediate fell 1.03% to $89.59. President Donald Trump described the roughly three-hour meeting as "very good," though he earlier warned of a "big decision" between a deal or "annihilating" Iran. Prices have declined nearly 12% over five sessions, retreating from above $100, with analysts citing Pakistan's mediation efforts and repeated peace-building initiatives as factors reducing escalation risk and limiting further price surges.