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Oil Prices Ease, Gold Steady Amid US-Iran Talks and Saudi Supply Restoration
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Moneycontrol•23-09-2026, 07:44
Oil Prices Ease, Gold Steady Amid US-Iran Talks and Saudi Supply Restoration
- •Oil prices drifted lower as Saudi Arabia restored crude supply through a key pipeline to the Red Sea.
- •Hopes for a diplomatic solution to the US-Iran situation at the UN in New York also contributed to easing oil prices.
- •Brent crude futures fell 7 cents to $99.18 a barrel, while West Texas Intermediate futures dropped 35 cents to $90.17 per barrel.
- •Gold remained steady as traders monitored US-Iran talks for clues on energy costs and the Federal Reserve’s interest-rate path.
- •Silver advanced 0.5% to $67.40 an ounce, with platinum and palladium also edging higher.
Key Questions Answered
Oil prices drifted lower as Saudi Arabia began restoring crude supply through a key pipeline to the Red Sea, while gold remained steady around $4,360 an ounce as traders monitored US-Iran talks.
Brent crude futures fell 7 cents to $99.18 a barrel and West Texas Intermediate futures fell 35 cents to $90.17 a barrel due to Saudi Arabia restoring Red Sea pipeline crude supply and hopes for a diplomatic solution via UN talks.
The US dollar steadied near its strongest level in two months on prospects of near-term interest rate hikes, even as easing oil prices and hopes for a diplomatic breakthrough kept investors on edge.
