Oil Edges Higher as Traders Await Potential US-Iran Talks at UN Assembly

Oil prices rose slightly on September 22 as markets steadied after several days of declines, with investors watching for diplomatic developments between the US and Iran at this week's UN General Assembly. Brent crude's November contract gained 22 cents, or 0.22%, to $100.57 a barrel at 0021 GMT. WTI's October contract, expiring September 22, added 2 cents, or 0.02%, to $95.80. The more actively traded November WTI contract rose 13 cents, or 0.14%, to $92.49. President Donald Trump said he would be open to meeting Iranian President Masoud Pezeshkian, who is expected in New York this week for the UN gathering. The two countries exchanged threats on September 20. "The move higher in WTI and the stronger open in Brent have the appearance of a typical short-covering bounce after the recent decline, rather than a fundamental shift," said Tim Waterer, chief market analyst at KCM Trade. Middle East tensions remain elevated after Yemen's Iran-backed Houthis said they attacked Riyadh and a Saudi Aramco facility in Yanbu.