Oil Prices Fall as US-Iran Talks Raise Hopes

Oil prices fell below $100 on September 23, 2026, after President Trump reported 'good' talks with Iran. The decline was also helped by Saudi Arabia restoring a key pipeline. Trump's energy adviser said Gulf states must build new oil routes to bypass the Strait of Hormuz. Meanwhile, Trump urged other countries to keep pressuring and economically isolating Iran. Shipping costs for oil tankers hit a record $1.2 million a day due to the Iran war.