Oil falls below $100 as Saudi repairs pipeline and US-Iran talks hint at peace

rfi.fr (Ukrainian)

Global oil prices have fallen for a sixth consecutive day, dropping below $100 per barrel for the first time in two weeks. The decline is driven by Saudi Arabia repairing a key pipeline, increased Iraqi exports, and hints of potential US-Iran negotiations. Brent crude fell to approximately $98.5 per barrel on Wednesday, September 23, while US WTI dropped to nearly $89. Saudi Arabia resumed operations on its East-West pipeline, which carries about 4% of global supply, after a drone attack halted it on September 11. Iraq is also boosting exports, adding up to 600,000 barrels daily through Turkey. Market sentiment improved after Donald Trump reported successful meetings between US negotiators and Iranian intermediaries in New York, raising hopes for a deal. This follows six months of volatility caused by military tensions between the US, Israel, and Iran, which had previously driven prices up, including in Ukraine.


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