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BUSINESS 9/9
Oil prices fall sharply on hopes of US-Iran peace talks
Oil prices fell sharply on Monday as reports emerged of diplomatic efforts between the US and Iran to end their conflict.
Oil prices fell sharply on Monday amid reports of ongoing diplomatic efforts between the US and Iran to end their war. Brent crude dropped more than 6% to around $105-107 a barrel, whilst US West Texas Intermediate fell to below $100 a barrel. The declines came after President Donald Trump signalled through Secretary of State Marco Rubio that the administration would prefer a peaceful resolution, and as Iranian officials indicated that talks mediated by Qatar were continuing. A draft peace agreement is being circulated, with Iran seeking sanctions relief and a reduction in US military presence in the region. However, some analysts cautioned that the oil price decline may have been overdone given the fluidity of the situation.
From 7 outlets:
UPI›
CNBC›
Summary written by AI from these reports. See news.today/ai
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