ReportedShipping, energy & marketsGlobal oil markets
Oil prices fall 3% as traders weigh prospects for a U.S.-Iran deal
- Mountain Time
- Local time
- 6:30 AM UTC, Nov 2
- Where
- Global oil markets
OilPrice.com reported that crude prices fell about 3% on Monday amid renewed optimism about Qatar-mediated diplomacy between Iran and the United States. Brent traded at $109.82 a barrel and West Texas Intermediate at $100.57 at the time of reporting.
Why it matters
Lower crude benchmarks ease immediate purchasing costs for refiners despite continuing uncertainty over military escalation and Hormuz access.
Source
- OilPrice.comoilprice.comPublished
Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels