Crude Oil Falls for Sixth Session as Brent Drops Below $100 on Middle East Diplomacy

Crude oil extended declines for a sixth consecutive session, with Brent falling below the key $100 mark to around $98 per barrel and WTI sliding near $89.54. The retreat followed diplomatic engagement between U.S. and Iranian officials at the UN General Assembly in New York, alongside an unconfirmed Iranian proposal to reopen the Strait of Hormuz within seven days. Downward price momentum was further reinforced by Saudi Arabia restarting its East-West Pipeline to resume exports from Yanbu, robust Iraqi shipments above 3 million barrels per day, and an unexpected 1.8 million-barrel build in U.S. crude inventories.