Oil prices fall over 2%

Oil prices fell sharply, pressured by expectations of renewed diplomatic contacts between the United States and Iran alongside rising crude exports from Saudi Arabia.

Brent crude futures for November dropped $2.27, or 2.19%, to $101.60 a barrel. U.S. West Texas Intermediate (WTI) futures for October shed $2.22, or 2.21%, to $98.08 a barrel.

Market sentiment weakened as potential talks between Washington and Tehran during the United Nations General Assembly eased geopolitical supply concerns. Pressure mounted further as Saudi Arabia's crude exports topped 4 million barrels per day in September.

N. Tebrizli