Saudi Arabia reopens Red Sea pipeline, oil falls below $100 a barrel
Saudi-Arabia reopened a key oil pipeline to the Red Sea on Tuesday, causing oil prices to fall below $100 per barrel. The 1,200-kilometer pipeline had been closed since a drone attack on September 13. The pipeline, which normally transports 4 to 5 million barrels daily, is currently operating at limited capacity, according to informed sources. North Sea oil prices dropped to under $98 per barrel after remaining above $100 for two weeks. Iran also offered to reopen oil shipping through the Strait of Hormuz if the US lifts its port blockade. US and Iranian representatives held a three-hour meeting Tuesday, around the same time President Donald Trump threatened to "obliterate" Iran during his UN General Assembly address. Trump confirmed the meeting at a press conference. Iran's Revolutionary Guard spokesperson said Tehran has tightened its conditions for ending the war with the US and Israel after a June agreement collapsed.