Oil Swings, Then Drops 1% as Trump Signals Iran Progress and Saudi Pipeline Nears Restart
Updated
Updated · NBC News · Sep 22
Oil Swings, Then Drops 1% as Trump Signals Iran Progress and Saudi Pipeline Nears Restart
3 articles · Updated · NBC News · Sep 22
Summary
Oil prices whipsawed Tuesday, then fell about 1% after Trump said U.S. envoys had a “very good” three-hour meeting with Iranian representatives at the U.N.
Markets also reacted to reports that Iran could reopen the Strait of Hormuz within days and that Saudi Arabia’s key east-west pipeline may resume operations sooner than feared, though both claims remained only partly confirmed.
Bond yields eased alongside crude, with the 10-year Treasury yield falling to 4.92% from 5.04% last week as investors pared some energy-war risk.
The volatility comes with both Brent and WTI still up more than 60% this year, gasoline at $4.47 a gallon and diesel at a record $6.52, underscoring how fragile supply routes remain.
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