Oil prices dip as Saudi Arabia says Iran talks aim to prevent escalation

US and Brent crude futures fell by about $0.70 in a short move lower on October 26, according to Bitget data cited by BlockBeats. The cited snapshot put the two contracts at $100.20 and $109.93 a barrel, respectively.

Diplomatic backdrop

Saudi Arabia said opening a negotiating channel was important amid Mecca Agreement talks in Tehran. Riyadh said the talks were intended to prevent the conflict from escalating and to help create conditions for an agreement to end it.

Source: BlockBeats original flash and English report, 2026-10-26 12:01:50 UTC.