Oil prices fell for a sixth straight day, the longest losing streak since August 2025, as U. -Iran talks eased Middle East supply concerns.
Oil prices slipped in Asian trading on Wednesday, putting Brent Crude at about $98.30 and U.S. WTI Crude at $89.49. The moves marked a sixth consecutive day of declines, the longest losing streak since August 2025.
The slide followed the first U.S.-Iran talks in months, which revived hopes of a diplomatic breakthrough and eased concerns about oil flow from the Middle East. U.S. President Donald Trump said the U.S. and Iranian representatives “had a very good meeting, a very productive meeting – they have another one scheduled in the very near future.” Tim Waterer, chief analyst at KCM Trade, told Reuters that the meeting gave traders “a glimmer of hope” despite continued tough rhetoric.
The market also priced in the partial return of Saudi Arabia’s East‑West onshore pipeline, which had been closed for over 10 days after drone attacks on September 10. The pipeline is operating at a low rate while Saudi Aramco works to restore flows to roughly 4 million barrels per day within a few weeks.
Future market direction remains uncertain, hinging on the outcome of further U.S.-Iran discussions and the pace at which the Saudi pipeline can resume full operations.