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Global Business News

The Economic Times

Global Business / The Economic Times

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Oil falls on increased Gulf supply and hopes for US-Iran talks

Oil prices experienced a decline as Saudi Arabia resumed its key pipeline operations to the Red Sea. This development, coupled with rising hopes for a diplomatic resolution to the US-Iran tensions following recent discussions in New York, led to a positive market reaction. Brent crude fell below $100 a barrel for the first time in several weeks.

23 Sep 2026 7:28 am