Crude oil prices remain above $100 per barrel as uncertainty around the Middle East conflict continues to weigh on global energy markets. With US President
Donald Trump and world leaders converging in New York for the United Nations General Assembly, the spotlight is on the diplomatic efforts to ease tensions between US and Iran. Any progress on talks and agreement to ease geopolitical tensions is likely to impact oil prices and in turn reflect in relief for consumers and economies facing higher energy costs and inflationary pressures. However, uncertainty across the energy sector persists as analysts assess the outlook for the conflict and its potential impact on global oil supplies. Peter McGuire, Oil Expert & CEO-Australia, Trading.com told Times Now Digital, "world leaders meet in New York and the main theme is peace for the Middle East and the cost of energy with inflation taking centre stage and central banks raising interest rates across the globe. Oil prices will continue to be volatile as long as uncertainty across the energy sector remains. The question of where next for consumers and inflation is, can the world leaders galvanise and create solidarity in their rhetoric against Iran or is this situation going to continue over the run up to Christmas." Nearly 130 heads of state and government are likely to begin taking the podium at the annual United Nations General Assembly in New York as the high-level general debate takes place. The session is set to open with UN Secretary-General Antonio Guterres, who introduces his annual report and is expected to give his final address, followed by UNGA President Khalilur Rahman, who will formally open the debate. The 81st UNGA's theme is "restoring trust, managing transformation: a United Nations that delivers for all." Many speeches are likely to focus on the Middle East and Ukraine conflicts, artificial intelligence and the spotlight remains on the impact of diplomatic efforts to ease tensions between US and Iran.
