Oil prices hold steady after weekly decline
Oil prices fell to their lowest levels in over a week, with Brent crude dropping to around $101.71 per barrel and West Texas Intermediate to $98.15, amid hopes for a diplomatic path amid tensions between the United States and Iran. The market declined after part of the risk premium was reassessed downward, despite ongoing threats and conflicts between the two countries. U.S. President Trump expressed openness to meeting with the Iranian president during the UN meetings, while oil flows from the Middle East remain strong, and the stalemate around the Strait of Hormuz continues.
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