Brent crude down 2% but remains above $101
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Crude oil prices fell during trading today, Sept. 21, as markets assessed the chances of success for diplomatic moves to ease the conflict between the US and Iran on the sidelines of the United Nations General Assembly meetings.
Tim Waterer, Senior Market Analyst at KCM Trade, said some of the risk premium appears to be fading from oil prices, amid hopes that a diplomatic path to de-escalation in the US-Iran conflict could be found this week, Reuters reported.
The markets received positive signals after US President Donald Trump announced his openness to meeting with his Iranian counterpart Masoud Pezeshkian in New York, along with Tehran conveying its conditions to mediators for a return to negotiations aimed at ending the conflict with the US.
|
Brent, WTI Futures Prices |
|||
|
Crude |
Price ($/bbl) |
Change ($) |
Change |
|
Brent (November delivery) |
101.71 |
(2.16) |
(2.10%) |
|
WTI (October delivery) |
98.20 |
(2.10) |
(2.10%) |
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