Oil slips below $100 as Saudi pipeline restart offsets Trump's UN remarks
Oil prices slipped below $100 a barrel but remained volatile as traders weighed Saudi Arabia's pipeline restart against President Trump's UN remarks, with Brent crude at $99.66 at press time. Brent briefly fell under $98 on hopes for US-Iran talks and Saudi Arabia resuming East-West pipeline flows, but losses trimmed after Trump's belligerent UN General Assembly speech on Tuesday. The kingdom is in early stages of restarting the pipeline halted by drone attacks, aiming to restore exports later this week. Flows through the Strait of Hormuz remain below pre-war levels despite millions of barrels crossing daily. Traders also parsed diplomatic signals on easing the US-Iran impasse over Hormuz management, with Iran reportedly watching Trump's mid-term election prospects.