Oil: an unexpected decline despite tensions in the Middle East

Oil prices fell on Monday, September 21, with Brent crude at around $102 and WTI at $98.50. This decline is attributed to hopes for de-escalation between Washington and Tehran, as the United Nations General Assembly takes place in New York. A meeting between Donald Trump and Massoud Pezeshkian is anticipated, while the upcoming state visit of Xi Jinping to the U.S. is also highly awaited.