Oil prices dropped to their lowest level in 11 days on Monday, with both Brent Crude and US West Texas Intermediate approaching $100 a barrel, as investors anticipated possible diplomatic breakthroughs at the UN General Assembly. Hopes for de-escalation were tempered by fresh US-Iran tensions, though US President Donald Trump indicated willingness to meet his Iranian counterpart on the sidelines of the assembly. Complicating the outlook, Yemen's Iran-backed Houthi rebels claimed attacks on the Saudi capital and the Aramco oil facility in Yanbu (a Red Sea port city), forcing Saudi Arabia to reroute some exports through the Strait of Hormuz and prompting China to call on Tehran to assist in curbing the militant group.