Oil extends losses as US-Iran talks show progress, Saudi pipeline set to restart

WTI crude for November fell below $90 a barrel, extending a decline of more than 10% over the prior five days, while Brent settled above $99 the previous session, as President Trump said US officials had a 'very good' meeting with Iranian representatives. Saudi Arabia moved to restart a key pipeline amid the diplomatic thaw.

Why this matters. A sustained drop below $90 WTI signals traders are pricing in reduced risk of prolonged Hormuz disruption, which could ease pressure on global fuel costs if the trend holds through the week.