U.S. crude falls below $100 again after Trump opens up to talks with Iran at the UN

Crude oil prices plunged on Monday, trading below $100 per barrel, after reports that U.S. President Donald Trump decided not to bomb Yemen for the time being and expressed openness to diplomacy with Iran. In terms of trading, futures for West Texas Intermediate (WTI) fell 4.5% to close at $95.78 per barrel. Brent crude, the global benchmark, also fell 3.4% to close at $100.34 per barrel, after hitting a session low of $98.98 earlier. Oil futures logged losses for the fourth consecutive session, as the market views the shutdown of Saudi Arabia's East‑West pipeline as having a smaller impact on supplies than initially expected. Prices had initially spiked following the pipeline disruption. Meanwhile, Trump told Fox News on Sunday that he is likely open to meeting Iranian President Masoud Beshkian at the United Nations headquarters during this week's General Assembly sessions. Middle East oil flows remain resilient despite supply disruptions, and the U.S. president decided not to bomb the Iran‑aligned Houthi fighters for now, despite pleas from Saudi Arabia, according to the New York Times citing Trump administration officials. JP Morgan analysts wrote in a September 18 memo that Middle Eastern crude exports have proven resilient even after Saudi Arabia shut the East‑West pipeline due to attacks. They added that total oil flows averaged 17 million barrels per day over the past ten days, about 6 million barrels per day below the 2025 average. However, the security situation in the region remains volatile and prone to sudden escalation. MacKay said the oil market is "dealing with multiple short‑term factors that are competing to drive prices." The Houthis targeted Saudi capital Riyadh and the coastal city of Yanbu on Saturday, which hosts a major oil export terminal on the Red Sea. The Saudi army said it intercepted a ballistic missile fired toward Riyadh, while its air defenses thwarted the attack on Yanbu. According to incident reports from the United Kingdom Maritime Trade Operations (UKMTO), at least two tankers were attacked while transiting the Strait of Hormuz yesterday. Trump: "Very big things" will happen soon regarding the war with Iran, and told Fox News he is in a "decision‑making stage" and that "very big things" will happen soon concerning the war with Iran. Trump described the options as "eliminate Iran, let it rot economically, or strike a deal," according to Fox News. In response, Iran's Revolutionary Guard warned it would expand the "geography of the conflict" if the United States launched new strikes on the Islamic Republic, according to Iranian state media. Ripple (XRP) maintains a strong upward trajectory, rising to trade near $1.50 on Monday. The digital asset logged four consecutive days of gains, buoyed by strong momentum indicators and heightened risk appetite…