Oil falls below $100 after Trump reports talks with Iran

Oil prices fell on Wednesday after US President Donald Trump said American and Iranian representatives had held talks at the United Nations.Brent crude, the international benchmark, was trading at $98.41 a barrel in the morning in Europe. US benchmark West Texas Intermediate cost $89.21 a barrel for next month delivery.Brent has repeatedly risen above $100 since the Middle East war began in February.The three-hour meeting was “very good” and “very productive”, Trump told reporters during a meeting with Ukrainian President Volodymyr Zelensky. He said another meeting was planned soon.His comments came hours after he told the UN he faced a “big decision” on whether to reach a deal with Iran or “annihilate the Islamic Republic and do it quickly”.The US and Iran remain at an impasse. Iran has kept the Strait of Hormuz closed, while the US has maintained a blockade of Iranian ports.