Oil prices fell for a sixth consecutive session, extending their longest losing streak in a year and pushing Brent crude below $100 a barrel. The decline reflected reports that Middle Eastern supply was increasing, including the possible resumption of Saudi exports, as well as hopes of progress in US–Iran negotiations, though Donald Trump also issued a severe warning if no deal is reached.

Brent crude dropped about $1 to $98.32 a barrel, while Saudi Arabia reportedly restarted its east-west pipeline and may have resumed exports from Yanbu. Asian markets were mostly higher, supported by enthusiasm for artificial intelligence, although China’s CSI 300 fell 0.5%; European and US futures pointed to stronger openings. Investors were also watching possible US–China trade discussions, currency movements and forthcoming manufacturing surveys from the eurozone, UK and US.