Brent crude fell below $100 a barrel on Tuesday, extending its losses into a fifth consecutive session and reaching a two-week low. The decline came as renewed diplomatic efforts raised hopes of an end to the US-Iran conflict and a restoration of disrupted Middle East energy flows. President Donald Trump is scheduled to address the UN General Assembly in New York and may meet Iranian President Masoud Pezeshkian on the sidelines. Trump is also expected to hold talks with Gulf leaders and Chinese President Xi Jinping later this week. US Treasury Secretary Scott Bessent said all Iranian airlines would be shut down from September 23. Supply indicators also improved, with Saudi Arabia moving about 2.9 million barrels of crude per day through the Strait of Hormuz over the past six days. Satellite imagery showed supertankers with combined capacity of approximately 14 million barrels at Saudi Arabia's Gulf export terminals, the highest number observed since at least June.