Oil slips near $100 amid Iran concerns

Oil prices declined near $100 per barrel, the lowest level in 11 days, due to investor hopes of diplomatic progress regarding the war with Iran during the United Nations meetings, and anticipation of a partial resumption of Saudi oil shipments. The prices of Brent crude and U.S. West Texas Intermediate declined by approximately 2.6-2.7%, amid renewed threats between Iran and the United States, despite Trump's declaration of readiness to meet with the Iranian president. Despite these tensions, satellite data showed that oil flows from the Middle East remained strong, particularly in Saudi Arabia, while Libya experienced a partial decrease in Sharara oilfield production.

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