Oil prices fell following positive signals from US-Iran negotiations.

In early Asian trading, Brent crude fell to $98.91 per barrel. US West Texas Intermediate (WTI) crude retreated to $89.93 per barrel.

Both are significantly below the $100/barrel threshold.Price oilIt has surpassed this mark many times since the Middle East conflict erupted in February.

Oil prices react to signals from US-Iran negotiations.

President Donald Trump said that representatives from the US and Iran had a three-hour meeting at the United Nations. He described the exchange as "very good" and "very productive."

According to Mr. Trump, the two sides have also planned another meeting in the near future.

This information was released just hours after the US President's speech at the United Nations General Assembly, where he declared he was facing a "big decision" regarding Iran.

The conflict has lasted nearly seven months since the US and Israeli attacks on Tehran. To date, the two sides have yet to break the stalemate.

Iran continues to keep the Strait of Hormuz closed. Meanwhile, the US maintains its blockade of Iranian ports.

The conflict between the Saudi Arabia-backed Yemeni government forces and the Iranian-backed Houthi rebels is also adding pressure. This situation is affecting energy exports through the Red Sea.

According to Stephen Innes of Quintex Intel, the US-Iran meeting has significant implications for the market. It helps investors shift their attention from the risk of escalation to the possibility of a genuine diplomatic process.

However, a final agreement between the two sides is still a long way off.

Saudi Arabia restores key oil export route.

Oil prices are also being affected by recent developments in Saudi Arabia, the world's largest crude oil exporter.

According to media reports, Riyadh has resumed operations on the East-West pipeline, a crucial oil export route that had been shut down due to the Middle East conflict.

Saudi Arabia said drone attacks from Iraq forced the pipeline to shut down. The pipeline is increasingly important as Iran blockades the Strait of Hormuz.

Saudi Arabia is aiming to resume exports via this route as early as this week.

Saudi Aramco also informed several Asian refineries that they could soon receive oil at the Yanbu port on the Red Sea. However, European customers are not expected to receive any oil allocations in October.

The resumption of this shipping route could help alleviate supply concerns. This also adds further pressure on the market.price oilduring the trading session.

Asian stocks showed mixed performance, with AI stocks attracting investment.

While oil prices fell, Asian stock markets showed mixed performance.

Taiwan's Taiex index rose 0.8%. The market was supported by a renewed wave of optimism regarding the artificial intelligence sector.

Anthropic and OpenAI have both announced new, lower-cost AI models. This move comes just days after leaders from both companies warned about the rapid pace of development of the technology.

Meta also contributed to boosting attention to AI. The company's stock rose 11% after its AI assistant Muse topped the download charts.

Investors are now turning their attention to Washington. President Donald Trump and Chinese President Xi Jinping are expected to meet on September 24th.

Trade is expected to be a central theme. The US and China have maintained a tariff truce for nearly a year but have yet to reach a long-term agreement.

According to Capital.com expert Kyle Rodda, the Middle East could also become a key issue at the meeting. Washington may seek Beijing's support to increase its influence over Iran.

AI is also predicted to be on the agenda. The technological competition between the world's two largest economies is receiving increasing attention, especially after recent warnings about the risks of AI.