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ReportedShipping, energy & marketsLondon, United Kingdom

Oil falls to an 11-day low on hopes for US-Iran diplomacy at the UN

Mountain Time
Local time
1:54 PM in London
Where
London, United Kingdom

Brent crude for November fell $2.69, or 2.6%, to $101.18 a barrel by 12:54 GMT on Monday, and both benchmarks touched their lowest since Sept. 10, as traders hoped this week's UN meetings would bring diplomatic progress and eyed a partial recovery in Saudi shipments.

Why it matters

Prices were still near $100 a barrel, so each signal from New York on Hormuz was moving the market.

Sources (2)

Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels